Crown Holdings, Inc. (NYSE:CCK) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its position in Crown Holdings, Inc. (NYSE:CCK) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,013 shares of the industrial products company’s stock after acquiring an additional 185 shares during the quarter. M&T Bank Corp’s holdings in Crown were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Nisa Investment Advisors LLC raised its position in Crown by 6.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 158 shares during the last quarter. GAMMA Investing LLC raised 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 buying an additional 163 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Crown by 36.1% during the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after buying an additional 176 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Crown by 2.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after buying an additional 183 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Crown by 5.4% in the 2nd quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 209 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CCK. Robert W. Baird increased their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Loop Capital lifted their price objective on shares of Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. 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 note on Wednesday, October 2nd. Truist Financial raised their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Mizuho set a $110.00 price target on shares of Crown in a research note on Friday, October 18th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown Price Performance

Shares of NYSE:CCK opened at $85.33 on Wednesday. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 105.35, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The business’s 50 day simple moving average is $92.34 and its 200-day simple moving average is $87.53. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46.

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

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.17%. Crown’s dividend payout ratio (DPR) is currently 123.46%.

Insiders Place Their Bets

In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total transaction of $697,500.00. Following the completion of the transaction, the chief executive officer now directly owns 571,178 shares in the company, valued at $53,119,554. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the sale, the chief operating officer now owns 114,402 shares in the company, valued at approximately $10,970,007.78. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,006 shares of company stock worth $2,478,049. Insiders own 0.90% of the company’s stock.

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.