Quarry LP Sells 1,614 Shares of Crown Holdings, Inc. (NYSE:CCK)

Quarry LP reduced its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 75.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 533 shares of the industrial products company’s stock after selling 1,614 shares during the quarter. Quarry LP’s holdings in Crown were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 117 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Crown by 4.6% in the fourth quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock valued at $237,000 after buying an additional 125 shares in the last quarter. Spire Wealth Management increased its holdings in Crown by 16.2% during the fourth quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock worth $82,000 after buying an additional 138 shares during the last quarter. Bessemer Group Inc. raised its position in Crown by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company’s stock worth $2,816,000 after acquiring an additional 138 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA lifted its stake in Crown by 0.3% in the fourth quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock valued at $4,735,000 after acquiring an additional 155 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Price Performance

Shares of Crown stock opened at $96.98 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.48. The company has a 50-day simple moving average of $87.93 and a two-hundred day simple moving average of $88.29.

Crown (NYSE:CCK) last released its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.45. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 earnings per share. Analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, May 15th. Crown’s payout ratio is currently 22.37%.

Insider Buying and Selling

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the sale, the chief operating officer now directly owns 135,014 shares in the company, valued at $13,096,358. This represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Royal Bank of Canada upped their price objective on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group lifted their target price on Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Mizuho increased their price target on Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average target price of $110.45.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.