Crown Holdings, Inc. (NYSE:CCK) Announces Quarterly Dividend of $0.25

Crown Holdings, Inc. (NYSE:CCK) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.25 per share by the industrial products company on Wednesday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.05%.

Crown has a payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Crown to earn $6.77 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 14.8%.

Crown Price Performance

CCK stock traded down $0.73 during midday trading on Thursday, hitting $95.20. The company’s stock had a trading volume of 633,129 shares, compared to its average volume of 1,133,305. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. The company has a 50 day moving average of $92.25 and a two-hundred day moving average of $84.80. Crown 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 Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. Crown had a net margin of 3.68% and a return on equity of 23.96%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm posted $1.68 earnings per share. Crown’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts expect that Crown will post 6.15 EPS for the current year.

Insider Buying and Selling

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the transaction, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $93.00, for a total value of $697,500.00. Following the completion of the transaction, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,506 shares of company stock valued at $3,075,799 over the last quarter. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CCK shares. Royal Bank of Canada boosted their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group cut their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Robert W. Baird lifted their price objective on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Bank of America lifted their price target on shares of Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.62.

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.