UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Holdings in Crown Holdings, Inc. (NYSE:CCK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.4% in the third quarter, Holdings Channel reports. The institutional investor owned 461,654 shares of the industrial products company’s stock after selling 26,427 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Crown were worth $44,263,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC increased its stake 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 acquiring an additional 749,085 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Crown by 7.8% during the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock worth $544,301,000 after purchasing an additional 412,973 shares during the last quarter. Sessa Capital IM L.P. raised its holdings 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 period. 1832 Asset Management L.P. lifted its position in Crown by 31.5% in the second 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 during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Crown by 7.1% during the second quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock worth $124,808,000 after buying an additional 111,589 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the sale, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This trade represents a 1.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock valued at $3,157,399 in the last ninety days. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

CCK has been the topic of a number of research reports. Barclays upped their price target on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their target price on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Citigroup boosted their price target on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. 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 note on Wednesday, October 23rd. Finally, Robert W. Baird lifted 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown Stock Performance

Shares of Crown stock opened at $92.03 on Wednesday. The firm has a market capitalization of $11.01 billion, a P/E ratio of 113.61, a P/E/G ratio of 2.05 and a beta of 0.84. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $98.46. The firm’s 50 day moving average is $93.40 and its two-hundred day moving average is $87.24.

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

Crown Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

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.