Spears Abacus Advisors LLC reduced its position in Crown Holdings, Inc. (NYSE:CCK) by 0.2% in the 1st quarter, HoldingsChannel reports. The fund owned 364,547 shares of the industrial products company’s stock after selling 800 shares during the period. Crown accounts for 2.5% of Spears Abacus Advisors LLC’s portfolio, making the stock its 19th biggest position. Spears Abacus Advisors LLC’s holdings in Crown were worth $19,893,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its holdings in shares of Crown by 2.4% in the fourth quarter. Prudential Financial Inc. now owns 8,385 shares of the industrial products company’s stock valued at $349,000 after acquiring an additional 200 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Crown by 0.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 36,251 shares of the industrial products company’s stock valued at $1,437,000 after acquiring an additional 235 shares in the last quarter. Atlas Capital Advisors LLC grew its stake in Crown by 16.7% in the first quarter. Atlas Capital Advisors LLC now owns 2,100 shares of the industrial products company’s stock valued at $115,000 after purchasing an additional 300 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in Crown by 3.0% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 12,412 shares of the industrial products company’s stock valued at $677,000 after purchasing an additional 363 shares during the last quarter. Finally, First Personal Financial Services grew its stake in Crown by 178.7% in the first quarter. First Personal Financial Services now owns 577 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

In other Crown news, Director John W. Conway sold 129,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $58.06, for a total value of $7,489,740.00. Following the completion of the transaction, the director now directly owns 1,156,677 shares of the company’s stock, valued at $67,156,666.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $60.79, for a total value of $607,900.00. Following the completion of the transaction, the chief operating officer now directly owns 152,292 shares of the company’s stock, valued at $9,257,830.68. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Several research firms have issued reports on CCK. Deutsche Bank lifted their target price on Crown from $60.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Zacks Investment Research lowered Crown from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Wells Fargo & Co set a $70.00 target price on Crown and gave the company a “hold” rating in a research report on Friday, May 17th. Morgan Stanley set a $56.00 target price on Crown and gave the company a “hold” rating in a research report on Wednesday, April 17th. Finally, TheStreet upgraded Crown from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $60.67.

NYSE CCK traded down $0.25 during trading hours on Wednesday, reaching $59.79. The stock had a trading volume of 22,121 shares, compared to its average volume of 1,396,711. The firm has a market cap of $8.19 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.61 and a beta of 1.58. Crown Holdings, Inc. has a 52-week low of $39.05 and a 52-week high of $61.40. The company has a quick ratio of 0.65, a current ratio of 1.20 and a debt-to-equity ratio of 5.87.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, April 17th. The industrial products company reported $1.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.05. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.76 billion. Crown had a return on equity of 54.33% and a net margin of 3.86%. Crown’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. As a group, research analysts expect that Crown Holdings, Inc. will post 5.29 earnings per share for the current year.

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Crown Company Profile

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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