Trivant Custom Portfolio Group LLC Purchases Shares of 540 Crown Holdings, Inc. (NYSE:CCK)

Trivant Custom Portfolio Group LLC purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 540 shares of the industrial products company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCK. Sound Income Strategies LLC bought a new stake in Crown during the 4th quarter valued at $26,000. Rise Advisors LLC bought a new stake in shares of Crown in the 1st quarter worth $27,000. Mather Group LLC. bought a new stake in shares of Crown in the 1st quarter worth $32,000. Quest Partners LLC bought a new stake in shares of Crown in the 4th quarter worth $34,000. Finally, Quarry LP grew its stake in shares of Crown by 190.3% in the 4th quarter. Quarry LP now owns 421 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

NYSE CCK traded down $2.09 during trading on Friday, hitting $74.39. 1,955,508 shares of the company’s stock traded hands, compared to its average volume of 864,807. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.02 and a beta of 0.88. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.35. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19. The business has a 50 day moving average of $81.48 and a 200-day moving average of $82.26.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that Crown Holdings, Inc. will post 5.95 earnings per share for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Thursday, June 13th. Crown’s payout ratio is 28.82%.

Analysts Set New Price Targets

Several analysts have recently issued reports on CCK shares. Loop Capital upped their target price on shares of Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley started coverage on shares of Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price for the company. Wolfe Research assumed coverage on shares of Crown in a research note on Friday, March 1st. They issued an “outperform” rating and a $102.00 target price for the company. Robert W. Baird boosted their price target on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their price target on shares of Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $99.29.

Insider Transactions at Crown

In other news, Director James H. Miller sold 9,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the sale, the director now directly owns 12,884 shares of the company’s stock, valued at $1,068,470.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total value of $746,370.00. Following the transaction, the director now directly owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $85.00, for a total transaction of $637,500.00. Following the completion of the transaction, the chief executive officer now owns 608,678 shares in the company, valued at $51,737,630. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,000 shares of company stock valued at $3,300,420. 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.