Jacobs Levy Equity Management Inc. Acquires 408,828 Shares of Crown Holdings, Inc. (NYSE:CCK)

Jacobs Levy Equity Management Inc. raised its stake in Crown Holdings, Inc. (NYSE:CCK) by 47.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,269,874 shares of the industrial products company’s stock after buying an additional 408,828 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Crown were worth $121,756,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CCK. Sessa Capital IM L.P. raised its position in Crown by 153.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after buying an additional 1,989,374 shares during the last quarter. Metropolis Capital Ltd raised its holdings in shares of Crown by 269.7% in the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after purchasing an additional 1,062,001 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Crown by 125.0% during the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after purchasing an additional 751,530 shares in the last quarter. FMR LLC boosted its holdings in Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after purchasing an additional 749,085 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its position in Crown by 31.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after purchasing an additional 473,000 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Trading Up 0.3 %

Shares of CCK opened at $92.41 on Tuesday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The stock’s 50-day moving average is $93.47 and its two-hundred day moving average is $87.19. The stock has a market cap of $11.06 billion, a PE ratio of 114.09, a P/E/G ratio of 2.04 and a beta of 0.84.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. Equities analysts forecast that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Analyst Ratings Changes

CCK has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Barclays boosted their target price on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Truist Financial raised their price target on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird upped their price objective on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the transaction, the chief executive officer now directly owns 578,678 shares in the company, valued at $52,416,653.24. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,506 shares of company stock worth $3,157,399. Company insiders own 0.90% of the company’s stock.

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.