Crown Holdings, Inc. (NYSE:CCK) Stock Holdings Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in Crown Holdings, Inc. (NYSE:CCK) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 249,041 shares of the industrial products company’s stock after acquiring an additional 10,295 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Crown worth $23,878,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCK. GAMMA Investing LLC lifted its holdings in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 163 shares in the last quarter. Covestor Ltd boosted its position in Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Crown during the 3rd quarter valued at about $48,000. EntryPoint Capital LLC acquired a new position in shares of Crown in the 1st quarter valued at about $41,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Crown in the third quarter worth approximately $55,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Performance

Shares of CCK opened at $89.86 on Friday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The company’s fifty day moving average price is $93.58 and its 200 day moving average price is $86.55. The company has a market capitalization of $10.75 billion, a PE ratio of 110.94, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.18. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. As a group, analysts expect that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s dividend payout ratio (DPR) is currently 123.46%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Mizuho set a $110.00 price objective on Crown in a report on Friday, October 18th. Morgan Stanley boosted their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Truist Financial lifted their price target on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Insider Activity at Crown

In related news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the completion of the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This trade represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total transaction of $725,475.00. Following the completion of the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This represents a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock worth $3,157,399 in the last ninety days. 0.90% of the stock is currently owned by insiders.

About Crown

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.