Crown Holdings, Inc. $CCK Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System raised its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,200 shares of the industrial products company’s stock after acquiring an additional 200 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of Crown worth $8,568,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Crown by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company’s stock valued at $279,836,000 after acquiring an additional 167,252 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Crown by 3.7% during the first quarter. AQR Capital Management LLC now owns 1,768,476 shares of the industrial products company’s stock valued at $156,988,000 after acquiring an additional 63,395 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Crown by 412.2% during the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company’s stock valued at $153,464,000 after acquiring an additional 1,383,624 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Crown by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,637,155 shares of the industrial products company’s stock valued at $146,117,000 after acquiring an additional 83,523 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of Crown by 5.0% during the second quarter. Swedbank AB now owns 1,550,525 shares of the industrial products company’s stock valued at $159,673,000 after acquiring an additional 73,959 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Trading Up 1.8%

CCK opened at $94.03 on Monday. Crown Holdings, Inc. has a one year low of $75.98 and a one year high of $109.48. The stock has a market capitalization of $10.94 billion, a PE ratio of 19.75, a P/E/G ratio of 1.34 and a beta of 0.73. The business’s 50 day moving average price is $96.36 and its 200 day moving average price is $97.34. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.06.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%.The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the firm posted $1.81 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a $0.26 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Crown’s dividend payout ratio is currently 21.85%.

Insider Buying and Selling

In related news, CEO Timothy J. Donahue sold 37,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $100.56, for a total value of $3,720,720.00. Following the transaction, the chief executive officer directly owned 462,056 shares in the company, valued at approximately $46,464,351.36. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Gerard H. Gifford sold 8,222 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the completion of the transaction, the chief accounting officer owned 122,585 shares in the company, valued at $12,617,674.05. This represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,222 shares of company stock worth $5,873,770 over the last quarter. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCK. Citigroup reduced their target price on Crown from $135.00 to $124.00 and set a “buy” rating for the company in a report on Monday, September 29th. Robert W. Baird upped their price target on Crown from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Mizuho dropped their price target on Crown from $127.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Morgan Stanley upped their price target on Crown from $114.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen lowered Crown from a “buy” rating to a “hold” rating in a research report on Saturday. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus target price of $116.62.

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.