Crown Holdings, Inc. (NYSE:CCK) Shares Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC lifted its position in Crown Holdings, Inc. (NYSE:CCK) by 38.0% in the second quarter, Holdings Channel reports. The firm owned 11,592 shares of the industrial products company’s stock after acquiring an additional 3,190 shares during the period. Convergence Investment Partners LLC’s holdings in Crown were worth $755,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC raised its stake in Crown by 51.9% during the 1st quarter. HighTower Advisors LLC now owns 7,064 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 2,413 shares during the last quarter. Baird Financial Group Inc. raised its stake in Crown by 353.2% during the 1st quarter. Baird Financial Group Inc. now owns 25,447 shares of the industrial products company’s stock valued at $1,477,000 after acquiring an additional 19,832 shares during the last quarter. AXA raised its stake in shares of Crown by 161.7% during the 1st quarter. AXA now owns 24,600 shares of the industrial products company’s stock worth $1,428,000 after buying an additional 15,200 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Crown by 66.8% during the 1st quarter. Treasurer of the State of North Carolina now owns 55,814 shares of the industrial products company’s stock worth $3,239,000 after buying an additional 22,345 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Crown by 167.3% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 19,906 shares of the industrial products company’s stock worth $1,155,000 after buying an additional 12,458 shares in the last quarter. 89.43% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on the company. KeyCorp reissued a “hold” rating on shares of Crown in a research note on Tuesday, July 21st. ValuEngine downgraded Crown from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Morgan Stanley increased their target price on Crown from $63.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Barclays reissued a “buy” rating on shares of Crown in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. cut their target price on Crown from $87.00 to $83.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. Crown has a consensus rating of “Buy” and an average price target of $80.75.

NYSE CCK traded down $0.42 during mid-day trading on Friday, hitting $71.58. The stock had a trading volume of 844,252 shares, compared to its average volume of 979,352. Crown Holdings, Inc. has a 52-week low of $42.97 and a 52-week high of $80.57. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 2.76 and a beta of 1.25. The company has a 50 day simple moving average of $67.04 and a 200 day simple moving average of $66.52. The company has a quick ratio of 0.80, a current ratio of 1.15 and a debt-to-equity ratio of 3.67.

Crown (NYSE:CCK) last announced its earnings results on Monday, July 20th. The industrial products company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Crown had a return on equity of 32.53% and a net margin of 4.28%. Crown’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, equities analysts anticipate that Crown Holdings, Inc. will post 5.19 earnings per share for the current fiscal year.

Crown Company Profile

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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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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