Principal Financial Group Inc. Has $26.45 Million Holdings in Crown Holdings, Inc. (NYSE:CCK)

Principal Financial Group Inc. reduced its position in Crown Holdings, Inc. (NYSE:CCK) by 30.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 275,875 shares of the industrial products company’s stock after selling 121,241 shares during the period. Principal Financial Group Inc. owned about 0.23% of Crown worth $26,451,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Crown by 110.9% in 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. EntryPoint Capital LLC purchased a new stake in shares of Crown in the first quarter worth approximately $41,000. Blue Trust Inc. lifted its position in shares of Crown by 172.6% in the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 385 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown during the third quarter worth approximately $48,000. Finally, Fifth Third Bancorp grew its position in Crown by 36.1% during the second quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 176 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Price Performance

NYSE:CCK opened at $94.00 on Wednesday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The company has a fifty day moving average price of $93.58 and a 200 day moving average price of $86.40. The stock has a market cap of $11.24 billion, a P/E ratio of 116.04, a PEG ratio of 2.07 and a beta of 0.85.

Crown (NYSE:CCK) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Analysts anticipate that Crown Holdings, Inc. will post 6.34 earnings per share for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. Crown’s payout ratio is 123.46%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CCK. Mizuho set a $110.00 target price on shares of Crown in a research note on Friday, October 18th. Morgan Stanley increased their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Wells Fargo & Company raised their target price on Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Royal Bank of Canada boosted their price target on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, UBS Group lowered their price objective on Crown from $112.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. 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.com, Crown has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Insiders Place Their Bets

In other news, 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 transaction of $679,350.00. Following the completion of the transaction, the chief executive officer now directly owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the transaction, the chief executive officer now owns 578,678 shares in the company, valued at $52,416,653.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James H. Miller sold 1,006 shares of the 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 transaction, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. 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 $3,157,399 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

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.