Crown Holdings, Inc. (NYSE:CCK) Shares Sold by American International Group Inc.

American International Group Inc. reduced its holdings in Crown Holdings, Inc. (NYSE:CCK) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,338 shares of the industrial products company’s stock after selling 4,508 shares during the period. American International Group Inc. owned approximately 0.13% of Crown worth $12,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Crown by 1.5% in the first quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock worth $951,306,000 after buying an additional 176,639 shares in the last quarter. Victory Capital Management Inc. lifted its stake 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 buying an additional 350,265 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Crown by 2.0% in the first quarter. William Blair Investment Management LLC now owns 2,826,399 shares of the industrial products company’s stock worth $224,020,000 after buying an additional 56,604 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Crown by 7.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,536,995 shares of the industrial products company’s stock worth $233,632,000 after buying an additional 186,387 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its stake in shares of Crown by 7.1% in the fourth quarter. Impax Asset Management Group plc now owns 2,013,351 shares of the industrial products company’s stock worth $185,409,000 after buying an additional 133,813 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CCK shares. Barclays lifted their target price on shares of Crown from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group reduced their target price on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lifted their target price on shares of Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Citigroup reduced their target price on shares of Crown from $102.00 to $94.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, Wells Fargo & Company lifted their target price on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.21.

Crown Stock Up 0.3 %

Shares of Crown stock traded up $0.24 during trading hours on Thursday, hitting $85.27. The company had a trading volume of 898,704 shares, compared to its average volume of 1,143,513. The company’s 50-day moving average is $79.17 and its two-hundred day moving average is $80.27. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $95.92. 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 company has a market cap of $10.30 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 2.20 and a beta of 0.85.

Crown (NYSE:CCK) last issued its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 24.18%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the business posted $1.68 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts anticipate that Crown Holdings, Inc. will post 6.02 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, June 13th. Crown’s payout ratio is 28.82%.

Insider Activity

In related news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 12,884 shares in the company, valued at approximately $1,068,470.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.00, for a total value of $637,500.00. Following the completion of the sale, the chief executive officer now owns 608,678 shares in the company, valued at approximately $51,737,630. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James H. Miller sold 9,000 shares of the company’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 of the company’s stock, valued at approximately $1,068,470.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,000 shares of company stock worth $4,575,870. Corporate insiders own 0.90% of the company’s stock.

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.