Pallas Capital Advisors LLC Takes Position in Crown Holdings, Inc. (NYSE:CCK)

Pallas Capital Advisors LLC bought a new position in Crown Holdings, Inc. (NYSE:CCK) in the 3rd quarter, Holdings Channel.com reports. The firm bought 9,187 shares of the industrial products company’s stock, valued at approximately $875,000.

A number of other institutional investors have also added to or reduced their stakes in CCK. State of Alaska Department of Revenue increased its position in shares of Crown by 6.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,845 shares of the industrial products company’s stock valued at $1,327,000 after purchasing an additional 815 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Crown by 2.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock worth $894,000 after buying an additional 183 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Crown by 177.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,832 shares of the industrial products company’s stock valued at $1,901,000 after acquiring an additional 12,676 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Crown by 33.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 5,208 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 1,305 shares in the last quarter. Finally, Forsta AP Fonden lifted its holdings in shares of Crown by 29.3% in the 3rd quarter. Forsta AP Fonden now owns 25,600 shares of the industrial products company’s stock worth $2,455,000 after acquiring an additional 5,800 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total transaction of $643,875.00. Following the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 value of $958,900.00. Following the completion of the transaction, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total transaction of $643,875.00. Following the transaction, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at approximately $50,323,381.30. This trade 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 over the last 90 days. 0.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CCK shares. Barclays lifted their target price on shares of Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Citigroup lifted their price objective on Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased 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. Loop Capital boosted their price objective on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Truist Financial increased their price objective on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.62.

Crown Stock Performance

NYSE:CCK opened at $95.68 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. The firm’s fifty day simple moving average is $92.77 and its 200 day simple moving average is $85.29. The stock has a market cap of $11.55 billion, a P/E ratio of 27.57, a price-to-earnings-growth ratio of 2.19 and a beta of 0.86. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $98.46.

Crown Dividend Announcement

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

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.