Huntington National Bank Decreases Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Huntington National Bank lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 10.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,343 shares of the industrial products company’s stock after selling 370 shares during the quarter. Huntington National Bank’s holdings in Crown were worth $321,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Crown

In related news, Director James H. Miller sold 1,006 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $95.60, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at approximately $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock worth $3,157,399 in the last ninety days. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CCK has been the subject of a number of research reports. Citigroup boosted their price objective on Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Truist Financial raised their price target on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Mizuho set a $110.00 price objective on shares of Crown in a research note on Friday, October 18th. Finally, Loop Capital boosted their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Stock Performance

Shares of NYSE:CCK opened at $89.86 on Friday. The business’s 50-day simple moving average is $93.58 and its 200 day simple moving average is $86.55. The company has a market cap of $10.75 billion, a P/E ratio of 110.94, a PEG ratio of 2.05 and a beta of 0.85. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.18. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. On average, sell-side 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 will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s dividend payout ratio (DPR) is currently 123.46%.

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.