Entropy Technologies LP Sells 5,962 Shares of Crown Holdings, Inc. (NYSE:CCK)

Entropy Technologies LP lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 58.4% in the 3rd quarter, Holdings Channel reports. The firm owned 4,245 shares of the industrial products company’s stock after selling 5,962 shares during the quarter. Entropy Technologies LP’s holdings in Crown were worth $407,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Crown by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 12,002,342 shares of the industrial products company’s stock worth $951,306,000 after acquiring an additional 176,639 shares in the last quarter. Sessa Capital IM L.P. lifted its holdings in Crown by 153.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock worth $244,697,000 after purchasing an additional 1,989,374 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Crown by 31.5% during the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after purchasing an additional 473,000 shares during the period. Clearbridge Investments LLC grew its holdings in Crown by 7.1% during the second quarter. Clearbridge Investments LLC now owns 1,677,752 shares of the industrial products company’s stock valued at $124,808,000 after purchasing an additional 111,589 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Crown by 5.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,471,750 shares of the industrial products company’s stock valued at $109,504,000 after purchasing an additional 79,502 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now directly owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The trade was a 7.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,506 shares of company stock worth $3,157,399. Company insiders own 0.90% of the company’s stock.

Crown Stock Performance

Shares of NYSE CCK opened at $89.84 on Friday. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The business has a fifty day simple moving average of $93.58 and a 200 day simple moving average of $86.52. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 110.91, a PEG ratio of 2.05 and a beta of 0.85.

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

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, November 14th. Crown’s payout ratio is 123.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CCK shares. Citigroup raised their target price 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. Loop Capital raised their price target on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Morgan Stanley boosted their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Robert W. Baird raised their target price on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada upped their price target on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $106.62.

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.