Concentric Capital Strategies LP Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Concentric Capital Strategies LP acquired a new stake in Crown Holdings, Inc. (NYSE:CCK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 166,835 shares of the industrial products company’s stock, valued at approximately $15,996,000. Crown comprises approximately 0.7% of Concentric Capital Strategies LP’s investment portfolio, making the stock its 20th largest position.

Several other large investors have also recently modified their holdings of CCK. Nisa Investment Advisors LLC lifted its stake in Crown by 6.1% in the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 158 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after buying an additional 163 shares during the period. Fifth Third Bancorp lifted its stake in shares of Crown by 36.1% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 176 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Crown by 2.0% during the 3rd 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 during the period. Finally, CIBC Asset Management Inc grew its position in Crown by 5.4% in the 2nd 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 during the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Activity

In other Crown news, Director James H. Miller sold 1,006 shares of Crown stock in a transaction that occurred on 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 directly owns 12,424 shares in the company, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock valued at $3,157,399 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Crown Price Performance

NYSE CCK opened at $92.09 on Monday. The firm’s fifty day simple moving average is $93.53 and its two-hundred day simple moving average is $87.13. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46. The firm has a market capitalization of $11.02 billion, a P/E ratio of 113.69, a P/E/G ratio of 2.04 and a beta of 0.85. 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 (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 the consensus estimate of $1.81 by $0.18. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. Analysts forecast that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Crown’s payout ratio is currently 123.46%.

Analyst Ratings Changes

Several analysts have recently weighed in on CCK shares. Citigroup lifted their target price on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. 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, October 23rd. Barclays lifted their price target on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company increased their price objective on Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Morgan Stanley lifted their target price on Crown from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

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.