Allspring Global Investments Holdings LLC Has $21.34 Million Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Allspring Global Investments Holdings LLC boosted its holdings in Crown Holdings, Inc. (NYSE:CCK) by 27.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 222,522 shares of the industrial products company’s stock after acquiring an additional 47,484 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Crown were worth $21,335,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in shares of Crown by 6.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 158 shares in the last quarter. GAMMA Investing LLC boosted its position in Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Crown by 36.1% during the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after buying an additional 176 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Crown by 5.4% during the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after buying an additional 209 shares in the last quarter. Finally, OFI Invest Asset Management boosted its holdings in shares of Crown by 2.2% during the 2nd quarter. OFI Invest Asset Management now owns 11,267 shares of the industrial products company’s stock valued at $782,000 after acquiring an additional 240 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Activity at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction dated 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 owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. This represents a 0.00 % 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 $3,075,799 in the last quarter. Company insiders own 0.90% of the company’s stock.

Crown Stock Performance

Shares of Crown stock opened at $95.24 on Friday. The company has a market cap of $11.50 billion, a P/E ratio of 27.45, a PEG ratio of 2.19 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 0.73 and a debt-to-equity ratio of 2.00. The business has a 50-day moving average price of $92.40 and a two-hundred day moving average price of $84.87. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $98.46.

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

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. Crown’s dividend payout ratio is currently 28.82%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CCK shares. Truist Financial upped their target price on Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Mizuho set a $110.00 price objective on shares of Crown in a report on Friday, October 18th. Bank of America boosted their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Citigroup raised their price target on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Crown 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.