Raiffeisen Bank International AG Purchases Shares of 70,000 Crown Holdings, Inc. (NYSE:CCK)

Raiffeisen Bank International AG purchased a new stake in Crown Holdings, Inc. (NYSE:CCK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 70,000 shares of the industrial products company’s stock, valued at approximately $5,732,000. Raiffeisen Bank International AG owned about 0.06% of Crown at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after buying an additional 117 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Crown by 4.6% in the 4th 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 during the last quarter. Spire Wealth Management grew its position in shares of Crown by 16.2% in the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock valued at $82,000 after buying an additional 138 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Crown by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company’s stock valued at $2,816,000 after buying an additional 138 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Crown by 0.4% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company’s stock valued at $3,758,000 after buying an additional 165 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank of Canada upped their price target on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. UBS Group boosted their price objective on Crown from $109.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Barclays boosted their price objective on Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Mizuho boosted their price objective on Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Finally, StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $110.45.

Crown Stock Down 0.1%

CCK stock opened at $99.58 on Friday. The stock’s 50 day simple moving average is $89.55 and its 200 day simple moving average is $88.49. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $101.07. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The company has a market cap of $11.59 billion, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76.

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

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, May 15th. Crown’s dividend payout ratio is presently 22.37%.

Insider Activity

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

Crown Profile

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.