Mercer Global Advisors Inc. ADV Cuts Holdings in Crown Holdings, Inc. (NYSE:CCK)

Mercer Global Advisors Inc. ADV reduced its position in Crown Holdings, Inc. (NYSE:CCK) by 1.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,649 shares of the industrial products company’s stock after selling 555 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Crown were worth $4,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Crown by 16.1% in the 1st quarter. BlackRock Inc. now owns 7,910,869 shares of the industrial products company’s stock valued at $767,670,000 after purchasing an additional 1,098,475 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Crown by 0.7% during the 4th quarter. Janus Henderson Group PLC now owns 7,323,332 shares of the industrial products company’s stock valued at $733,798,000 after buying an additional 50,659 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Crown by 22.8% during the 4th quarter. Nuveen Asset Management LLC now owns 3,805,363 shares of the industrial products company’s stock valued at $381,297,000 after buying an additional 707,418 shares during the last quarter. Jennison Associates LLC grew its holdings in Crown by 11.5% during the 1st quarter. Jennison Associates LLC now owns 1,569,418 shares of the industrial products company’s stock valued at $152,296,000 after buying an additional 162,085 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in Crown by 174.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,255,615 shares of the industrial products company’s stock valued at $125,811,000 after buying an additional 797,424 shares during the last quarter. 86.88% of the stock is owned by hedge funds and other institutional investors.

In other news, Director John W. Conway sold 334 shares of Crown stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $109.76, for a total transaction of $36,659.84. Following the sale, the director now directly owns 1,031,377 shares of the company’s stock, valued at $113,203,939.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Hock Huat Goh sold 4,625 shares of Crown stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $109.82, for a total value of $507,917.50. Following the sale, the insider now directly owns 53,607 shares in the company, valued at $5,887,120.74. The disclosure for this sale can be found here. Insiders sold 10,095 shares of company stock worth $1,128,027 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Crown from $103.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, February 11th. The Goldman Sachs Group assumed coverage on Crown in a report on Friday, April 9th. They set a “neutral” rating and a $108.00 price objective on the stock. Jefferies Financial Group raised their price objective on Crown from $123.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, April 15th. BMO Capital Markets cut Crown from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $125.00 to $110.00 in a report on Wednesday, May 26th. Finally, Citigroup raised their price objective on Crown from $117.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 11th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Crown presently has an average rating of “Buy” and a consensus price target of $118.40.

Shares of Crown stock opened at $100.34 on Friday. Crown Holdings, Inc. has a twelve month low of $61.00 and a twelve month high of $114.55. The firm has a market capitalization of $13.54 billion, a PE ratio of 19.22, a P/E/G ratio of 2.90 and a beta of 1.18. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 2.80. The firm has a fifty day moving average price of $106.70.

Crown (NYSE:CCK) last released its quarterly earnings data on Sunday, April 18th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.39 by $0.44. Crown had a return on equity of 35.78% and a net margin of 5.90%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, analysts predict that Crown Holdings, Inc. will post 6.88 EPS for the current fiscal year.

Crown announced that its Board of Directors has initiated a share buyback program on Thursday, February 25th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 11.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 20th. Shareholders of record on Thursday, May 6th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Wednesday, May 5th. Crown’s dividend payout ratio (DPR) is presently 13.51%.

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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