Steph & Co. Reduces Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Steph & Co. lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 34.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,671 shares of the industrial products company’s stock after selling 1,400 shares during the period. Steph & Co.’s holdings in Crown were worth $221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCK. Marshall & Sullivan Inc. WA raised its stake in shares of Crown by 0.3% during the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock worth $4,735,000 after buying an additional 155 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Crown by 110.9% during 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 last quarter. DekaBank Deutsche Girozentrale lifted its stake in Crown by 2.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after buying an additional 183 shares in the last quarter. M&T Bank Corp grew its holdings in Crown by 3.8% during the 3rd quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company’s stock valued at $481,000 after buying an additional 185 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in Crown by 6.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,539 shares of the industrial products company’s stock worth $339,000 after buying an additional 223 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Performance

NYSE:CCK opened at $84.64 on Thursday. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 104.49, a PEG ratio of 1.51 and a beta of 0.86. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The firm’s fifty day simple moving average is $87.06 and its 200 day simple moving average is $87.90.

Crown (NYSE:CCK) last issued its earnings results 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 company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.07 billion. Crown had a return on equity of 24.57% and a net margin of 0.83%. As a group, equities research analysts expect that Crown Holdings, Inc. will post 6.35 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.18%. The ex-dividend date was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is 123.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CCK shares. Mizuho decreased their price objective on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird raised their price target on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Bank of America cut their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Truist Financial raised their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Finally, Citigroup lifted their price target on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.62.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the business’s 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 transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 8.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were 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 $54,524,572.94. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.