Crown Holdings, Inc. (NYSE:CCK) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,403 shares of the industrial products company’s stock after purchasing an additional 570 shares during the period. Texas Permanent School Fund Corp owned 0.09% of Crown worth $8,275,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CCK. Norges Bank acquired a new stake in shares of Crown in the fourth quarter worth approximately $109,826,000. Clearbridge Investments LLC boosted its position in shares of Crown by 474.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,214,618 shares of the industrial products company’s stock worth $111,854,000 after acquiring an additional 1,003,312 shares during the last quarter. Boston Partners acquired a new stake in shares of Crown in the fourth quarter worth approximately $84,960,000. Garner Asset Management Corp acquired a new stake in shares of Crown in the fourth quarter worth approximately $34,073,000. Finally, Victory Capital Management Inc. boosted its position in shares of Crown by 7.3% in the fourth quarter. Victory Capital Management Inc. now owns 5,136,706 shares of the industrial products company’s stock worth $473,039,000 after acquiring an additional 350,265 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Crown

In other Crown news, Director James H. Miller sold 9,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Crown news, Director James H. Miller sold 9,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the completion of the sale, the director now owns 12,884 shares in the company, valued at $1,068,470.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total transaction of $637,500.00. Following the sale, the chief executive officer now owns 608,678 shares of the company’s stock, valued at approximately $51,737,630. The disclosure for this sale can be found here. Insiders sold a total of 39,000 shares of company stock worth $3,300,420 over the last 90 days. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CCK shares. Truist Financial reaffirmed a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Robert W. Baird lifted their price target on shares of Crown from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on shares of Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Loop Capital lifted their price target on shares of Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and a consensus target price of $98.31.

Crown Stock Up 2.9 %

Shares of NYSE:CCK traded up $2.12 during midday trading on Thursday, reaching $74.60. The company had a trading volume of 1,269,752 shares, compared to its average volume of 1,118,918. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.19 and a quick ratio of 0.77. The stock’s fifty day moving average price is $80.07 and its 200-day moving average price is $81.17. The stock has a market capitalization of $9.01 billion, a P/E ratio of 21.50, a PEG ratio of 1.93 and a beta of 0.85. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35.

Crown (NYSE:CCK) last issued 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. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. Crown had a net margin of 3.51% and a return on equity of 23.95%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. Equities research analysts expect that Crown Holdings, Inc. will post 5.93 earnings per share for the current fiscal year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.00 annualized dividend and a yield of 1.34%. Crown’s payout ratio is 28.82%.

Crown Company 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.