Crown Holdings, Inc. (NYSE:CCK) is Iridian Asset Management LLC CT’s 9th Largest Position

Iridian Asset Management LLC CT trimmed its position in Crown Holdings, Inc. (NYSE:CCK) by 28.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 195,849 shares of the industrial products company’s stock after selling 78,610 shares during the period. Crown comprises 4.0% of Iridian Asset Management LLC CT’s portfolio, making the stock its 9th biggest holding. Iridian Asset Management LLC CT owned about 0.16% of Crown worth $18,778,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Crown by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock worth $951,306,000 after purchasing an additional 176,639 shares in the last quarter. Sessa Capital IM L.P. increased its position in Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after buying an additional 1,989,374 shares in the last quarter. William Blair Investment Management LLC raised 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 during the period. 1832 Asset Management L.P. lifted its position in shares of Crown by 31.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock valued at $147,032,000 after buying an additional 473,000 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Crown by 7.1% during the 2nd quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock valued at $124,808,000 after acquiring an additional 111,589 shares during the period. 90.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CCK shares. UBS Group decreased 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. Royal Bank of Canada raised their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Barclays upped their target price on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Loop Capital boosted their price objective on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Morgan Stanley upped their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.62.

Insiders Place Their Bets

In other news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares in the company, valued at approximately $1,187,734.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James H. Miller sold 1,006 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares in the company, valued at $1,187,734.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock valued at $3,075,799 over the last three months. 0.90% of the stock is owned by company insiders.

Crown Stock Up 1.0 %

Shares of NYSE:CCK opened at $95.68 on Thursday. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 2.19 and a beta of 0.86. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The company has a 50-day moving average price of $92.77 and a 200 day moving average price of $85.29.

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. Crown’s dividend payout ratio is presently 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.