Verdence Capital Advisors LLC Acquires 194 Shares of Crown Holdings, Inc. $CCK

Verdence Capital Advisors LLC grew its stake in Crown Holdings, Inc. (NYSE:CCK) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,909 shares of the industrial products company’s stock after purchasing an additional 194 shares during the period. Verdence Capital Advisors LLC’s holdings in Crown were worth $711,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Crown by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 3,135,062 shares of the industrial products company’s stock worth $279,836,000 after purchasing an additional 167,252 shares during the period. AQR Capital Management LLC boosted its stake in 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 worth $156,988,000 after buying an additional 63,395 shares during the period. Invesco Ltd. boosted its stake in Crown by 412.2% during the first quarter. Invesco Ltd. now owns 1,719,296 shares of the industrial products company’s stock worth $153,464,000 after buying an additional 1,383,624 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Crown by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,637,155 shares of the industrial products company’s stock worth $146,117,000 after purchasing an additional 83,523 shares during the period. Finally, Swedbank AB boosted its stake in shares of Crown by 5.0% during the 2nd quarter. Swedbank AB now owns 1,550,525 shares of the industrial products company’s stock worth $159,673,000 after purchasing an additional 73,959 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Stock Up 0.7%

NYSE:CCK opened at $90.81 on Wednesday. Crown Holdings, Inc. has a 1-year low of $75.98 and a 1-year high of $109.48. The company has a 50-day moving average of $96.85 and a 200 day moving average of $97.23. The firm has a market cap of $10.57 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.06 and a quick ratio of 0.69.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.29. Crown had a net margin of 4.64% and a return on equity of 27.15%. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. As a group, research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.26 per share. 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%.

Insiders Place Their Bets

In related news, CAO Gerard H. Gifford sold 8,222 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the sale, the chief accounting officer directly owned 122,585 shares in the company, valued at $12,617,674.05. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Timothy J. Donahue sold 13,000 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $100.52, for a total value of $1,306,760.00. Following the sale, the chief executive officer owned 449,056 shares of the company’s stock, valued at $45,139,109.12. This trade represents a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,222 shares of company stock valued at $5,873,770. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CCK shares. Weiss Ratings restated a “buy (b-)” rating on shares of Crown in a research report on Wednesday, October 8th. Truist Financial upgraded Crown from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Friday, September 5th. Wall Street Zen lowered shares of Crown from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. UBS Group lowered their target price on shares of Crown from $130.00 to $117.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Finally, Baird R W cut shares of Crown from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.25.

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.