Natixis Advisors L.P. Increases Holdings in Crown Holdings, Inc. (NYSE:CCK)

Natixis Advisors L.P. increased its stake in Crown Holdings, Inc. (NYSE:CCK) by 62.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,266 shares of the industrial products company’s stock after acquiring an additional 134,250 shares during the period. Natixis Advisors L.P. owned approximately 0.29% of Crown worth $32,163,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Crown during the 3rd quarter valued at approximately $614,000. Commonwealth Equity Services LLC raised its stake in shares of Crown by 2.7% in the third quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company’s stock valued at $611,000 after acquiring an additional 183 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Crown by 61.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 6,966 shares of the industrial products company’s stock worth $616,000 after acquiring an additional 2,638 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Crown by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,222,802 shares of the industrial products company’s stock worth $108,194,000 after purchasing an additional 12,577 shares during the period. Finally, Verdence Capital Advisors LLC grew its holdings in Crown by 4.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,100 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 320 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the transaction, the chief executive officer now owns 616,178 shares of the company’s stock, valued at approximately $52,486,042.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.

Crown Trading Up 0.1 %

NYSE:CCK opened at $82.45 on Friday. The firm has a 50-day simple moving average of $78.16 and a 200-day simple moving average of $82.63. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35. The firm has a market cap of $9.96 billion, a P/E ratio of 23.76, a P/E/G ratio of 2.79 and a beta of 0.88. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.77 and a current ratio of 1.19.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.93 billion. Crown had a net margin of 3.51% and a return on equity of 23.95%. Crown’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Equities analysts anticipate that Crown Holdings, Inc. will post 5.94 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, June 13th. Crown’s payout ratio is currently 28.82%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CCK. Wells Fargo & Company raised their price objective on shares of Crown from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Truist Financial reaffirmed a “hold” rating and issued a $88.00 price objective (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Loop Capital lifted their target price on Crown from $101.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group initiated coverage on shares of Crown in a research note on Tuesday, January 16th. They set a “buy” rating and a $112.00 target price for the company. Finally, Wolfe Research assumed coverage on shares of Crown in a research note on Friday, March 1st. They issued an “outperform” rating and a $102.00 price target on the stock. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $99.29.

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.