M&T Bank Corp lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 6.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,833 shares of the industrial products company’s stock after selling 880 shares during the period. M&T Bank Corp’s holdings in Crown were worth $845,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its stake in shares of Crown by 53.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 691 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 240 shares during the last quarter. Investors Research Corp raised its holdings in Crown by 12.2% in the second quarter. Investors Research Corp now owns 2,300 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 250 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Crown by 7.3% during the second quarter. Advisor Group Inc. now owns 3,759 shares of the industrial products company’s stock valued at $230,000 after buying an additional 257 shares during the last quarter. Machina Capital S.A.S. lifted its position in shares of Crown by 19.5% during the second quarter. Machina Capital S.A.S. now owns 2,141 shares of the industrial products company’s stock valued at $131,000 after buying an additional 350 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Crown by 3.0% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 12,412 shares of the industrial products company’s stock valued at $677,000 after buying an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.
In other news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $67.92, for a total transaction of $679,200.00. Following the sale, the chief operating officer now directly owns 152,292 shares of the company’s stock, valued at $10,343,672.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.
A number of research firms recently commented on CCK. ValuEngine raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Co set a $70.00 price target on shares of Crown and gave the stock a “hold” rating in a report on Friday, May 17th. Citigroup lifted their price target on shares of Crown from $70.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Robert W. Baird set a $65.00 price target on Crown and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research upgraded Crown from a “sell” rating to a “hold” rating and set a $67.00 price objective for the company in a report on Tuesday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $64.78.
Shares of Crown stock traded down $0.43 during midday trading on Wednesday, hitting $62.87. The company had a trading volume of 15,009 shares, compared to its average volume of 1,045,737. The company has a fifty day simple moving average of $65.28 and a 200 day simple moving average of $59.71. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.77 and a beta of 1.57. The company has a quick ratio of 0.66, a current ratio of 1.17 and a debt-to-equity ratio of 5.13. Crown Holdings, Inc. has a 12-month low of $39.05 and a 12-month high of $68.84.
Crown (NYSE:CCK) last released its earnings results on Wednesday, July 17th. The industrial products company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.03). Crown had a return on equity of 48.36% and a net margin of 3.91%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the firm posted $1.55 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts expect that Crown Holdings, Inc. will post 5.09 EPS for the current year.
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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