Crown Holdings, Inc. (CCK) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Crown Holdings, Inc. (NYSE:CCK) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,423 shares of the industrial products company’s stock after purchasing an additional 3,599 shares during the quarter. Principal Financial Group Inc.’s holdings in Crown Holdings were worth $1,755,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Neuberger Berman Group LLC boosted its holdings in shares of Crown Holdings by 3.3% during the second quarter. Neuberger Berman Group LLC now owns 1,776,396 shares of the industrial products company’s stock valued at $105,980,000 after acquiring an additional 57,124 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Crown Holdings by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 917,015 shares of the industrial products company’s stock valued at $54,710,000 after acquiring an additional 8,287 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Crown Holdings by 35.9% during the second quarter. SG Americas Securities LLC now owns 18,547 shares of the industrial products company’s stock valued at $1,107,000 after acquiring an additional 4,899 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Crown Holdings by 2.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 398,637 shares of the industrial products company’s stock valued at $23,783,000 after acquiring an additional 9,440 shares during the period. Finally, KCG Holdings Inc. boosted its holdings in shares of Crown Holdings by 14.8% during the first quarter. KCG Holdings Inc. now owns 20,229 shares of the industrial products company’s stock valued at $1,071,000 after acquiring an additional 2,603 shares during the period. 90.15% of the stock is owned by hedge funds and other institutional investors.

Crown Holdings, Inc. (NYSE:CCK) opened at 60.04 on Wednesday. The company has a 50-day moving average price of $59.87 and a 200-day moving average price of $57.98. The stock has a market cap of $8.12 billion, a PE ratio of 17.20 and a beta of 1.40. Crown Holdings, Inc. has a 52 week low of $51.57 and a 52 week high of $61.39.

Crown Holdings (NYSE:CCK) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.15 billion. Crown Holdings had a return on equity of 66.28% and a net margin of 5.81%. Crown Holdings’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. Analysts anticipate that Crown Holdings, Inc. will post $4.03 earnings per share for the current year.

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A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Thursday, September 21st. Deutsche Bank AG restated a “hold” rating and set a $61.00 price objective (up from $58.00) on shares of Crown Holdings in a research note on Tuesday, July 18th. KeyCorp restated a “hold” rating on shares of Crown Holdings in a research note on Thursday, July 20th. Barclays PLC restated an “overweight” rating and set a $69.00 price objective (up from $63.00) on shares of Crown Holdings in a research note on Monday, July 24th. Finally, Vertical Research cut shares of Crown Holdings from a “buy” rating to a “hold” rating and lifted their price objective for the company from $60.00 to $64.00 in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Crown Holdings has an average rating of “Hold” and a consensus price target of $64.56.

Crown Holdings Company Profile

Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.

Institutional Ownership by Quarter for Crown Holdings (NYSE:CCK)

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