Anchor Investment Management LLC Trims Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Anchor Investment Management LLC decreased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 7.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,915 shares of the industrial products company’s stock after selling 150 shares during the quarter. Anchor Investment Management LLC’s holdings in Crown were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake 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 acquiring an additional 163 shares during the last quarter. Covestor Ltd raised its holdings in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in Crown during the third quarter valued at $44,000. Blue Trust Inc. grew its holdings in Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 385 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new stake in Crown in the third quarter worth about $48,000. 90.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 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 8.04 % 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, 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 completion of the sale, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This represents a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,006 shares of company stock valued at $2,478,049 in the last ninety days. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Barclays upped their price target on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Morgan Stanley increased their price objective on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company lifted their target price on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Citigroup increased their price target on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Trading Down 0.2 %

Shares of CCK stock opened at $87.88 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46. The stock’s 50-day moving average price is $92.45 and its 200-day moving average price is $87.44. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 108.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

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

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, November 14th. Crown’s dividend payout ratio is currently 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.