Gabelli Funds LLC Sells 3,330 Shares of Crown Holdings, Inc. (NYSE:CCK)

Gabelli Funds LLC lessened its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,250 shares of the industrial products company’s stock after selling 3,330 shares during the period. Gabelli Funds LLC owned approximately 0.11% of Crown worth $10,561,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Raymond James & Associates raised its position in shares of Crown by 19.0% in the fourth quarter. Raymond James & Associates now owns 273,283 shares of the industrial products company’s stock valued at $25,167,000 after buying an additional 43,727 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Crown by 87.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,049 shares of the industrial products company’s stock valued at $1,202,000 after buying an additional 6,083 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Crown by 68.7% in the fourth quarter. Pacer Advisors Inc. now owns 23,515 shares of the industrial products company’s stock valued at $2,165,000 after buying an additional 9,576 shares in the last quarter. Oak Thistle LLC raised its position in shares of Crown by 5.3% in the fourth quarter. Oak Thistle LLC now owns 6,871 shares of the industrial products company’s stock valued at $633,000 after buying an additional 343 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its position in shares of Crown by 12.8% in the fourth quarter. DAVENPORT & Co LLC now owns 50,246 shares of the industrial products company’s stock valued at $4,627,000 after buying an additional 5,686 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Buying and Selling at Crown

In other Crown news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, the director now owns 12,884 shares of the company’s stock, valued at $1,068,470.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crown news, Director James H. Miller sold 9,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $82.93, for a total transaction of $746,370.00. Following the sale, the director now owns 12,884 shares of the company’s stock, valued at $1,068,470.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 22,500 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the sale, the chief executive officer now directly owns 616,178 shares in the company, valued at approximately $52,486,042.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,000 shares of company stock valued at $4,575,870. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCK. Barclays lifted their price target on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Crown from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Wednesday. Truist Financial boosted their price objective on shares of Crown from $88.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, UBS Group lowered their price objective on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.21.

Crown Trading Up 0.9 %

Shares of Crown stock traded up $0.78 during trading on Friday, hitting $85.68. The company’s stock had a trading volume of 1,556,504 shares, compared to its average volume of 1,294,619. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.77. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $95.31. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 2.03 and a beta of 0.85. The stock has a 50-day moving average price of $79.18 and a two-hundred day moving average price of $80.26.

Crown (NYSE:CCK) last issued its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. Crown’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts anticipate that Crown Holdings, Inc. will post 6.15 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Crown’s dividend payout ratio (DPR) is currently 28.82%.

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.