Los Angeles Capital Management LLC Invests $613,000 in Crown Holdings, Inc. (NYSE:CCK)

Los Angeles Capital Management LLC bought a new stake in Crown Holdings, Inc. (NYSE:CCK) in the third quarter, HoldingsChannel reports. The fund bought 6,395 shares of the industrial products company’s stock, valued at approximately $613,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCK. GAMMA Investing LLC raised its holdings in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares during the period. EntryPoint Capital LLC purchased a new position in Crown in the first quarter valued at approximately $41,000. Covestor Ltd lifted its position in Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares in the last quarter. Blue Trust Inc. grew its stake in Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after buying an additional 385 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Crown in the third quarter worth $48,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the sale, the chief executive officer now owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. This trade represents a 1.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James H. Miller sold 1,006 shares of the company’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 transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock valued at $3,157,399 over the last 90 days. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho set a $110.00 price target on shares of Crown in a research report on Friday, October 18th. Royal Bank of Canada upped their target price on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Loop Capital raised their target price on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Morgan Stanley increased their price objective on shares of Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Citigroup boosted their target price on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Price Performance

Shares of CCK stock opened at $89.86 on Friday. The firm has a market cap of $10.75 billion, a P/E ratio of 110.94, a P/E/G ratio of 2.05 and a beta of 0.85. The firm has a fifty day moving average of $93.58 and a two-hundred day moving average of $86.55. 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 1-year low of $69.61 and a 1-year high of $98.46.

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

Crown Dividend Announcement

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

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.