Crestline Management LP Invests $265,000 in Crown Holdings, Inc. (NYSE:CCK)

Crestline Management LP purchased a new position in Crown Holdings, Inc. (NYSE:CCK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,200 shares of the industrial products company’s stock, valued at approximately $265,000.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after buying an additional 256 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after buying an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after buying an additional 117 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after buying an additional 269 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Crown by 325.1% in the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock worth $70,000 after buying an additional 647 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Transactions at Crown

In related news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the transaction, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at $13,096,358. This trade represents a 4.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CCK shares. Wells Fargo & Company increased their target price on shares of Crown from $89.00 to $101.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Royal Bank of Canada increased their target price on shares of Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Truist Financial reduced their target price on shares of Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Mizuho increased their target price on shares of Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Finally, Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $109.00 to $105.00 in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $110.45.

Crown Price Performance

Shares of Crown stock opened at $97.14 on Monday. The firm has a market cap of $11.31 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.48. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The company’s fifty day simple moving average is $88.87 and its two-hundred day simple moving average is $88.28.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.45. Crown had a net margin of 3.59% and a return on equity of 25.12%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the firm earned $1.02 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.07%. Crown’s dividend payout ratio is 22.37%.

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.