SeaBridge Investment Advisors LLC Grows Stake in Crown Holdings, Inc. (NYSE:CCK)

SeaBridge Investment Advisors LLC raised its stake in Crown Holdings, Inc. (NYSE:CCKGet Rating) by 29.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,885 shares of the industrial products company’s stock after acquiring an additional 1,339 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Crown were worth $736,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Calamos Advisors LLC bought a new position in shares of Crown during the first quarter valued at $1,320,000. JustInvest LLC lifted its holdings in shares of Crown by 73.6% during the fourth quarter. JustInvest LLC now owns 7,047 shares of the industrial products company’s stock valued at $780,000 after purchasing an additional 2,988 shares in the last quarter. Institute for Wealth Management LLC. bought a new position in shares of Crown during the first quarter valued at $333,000. Envestnet Asset Management Inc. lifted its holdings in shares of Crown by 8.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 87,261 shares of the industrial products company’s stock valued at $9,653,000 after purchasing an additional 6,755 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Crown by 328.6% during the fourth quarter. Bank of Montreal Can now owns 99,008 shares of the industrial products company’s stock valued at $10,847,000 after purchasing an additional 75,905 shares in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Crown news, insider Djalma Novaes, Jr. sold 5,000 shares of Crown stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $105.38, for a total transaction of $526,900.00. Following the completion of the sale, the insider now directly owns 80,328 shares of the company’s stock, valued at approximately $8,464,964.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho lowered their target price on Crown from $131.00 to $126.00 in a report on Wednesday, April 27th. Truist Financial reduced their price target on Crown from $147.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Wells Fargo & Company reduced their price target on Crown from $110.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Crown from $137.00 to $135.00 in a research report on Tuesday, July 19th. Finally, Robert W. Baird reduced their price target on Crown from $165.00 to $130.00 in a research report on Friday, July 22nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and an average price target of $132.64.

Crown Price Performance

NYSE:CCK opened at $90.30 on Friday. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of -30.20, a PEG ratio of 2.38 and a beta of 1.13. Crown Holdings, Inc. has a 1 year low of $85.85 and a 1 year high of $130.42. The business has a 50 day simple moving average of $95.78 and a 200-day simple moving average of $109.30. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.95 and a quick ratio of 0.59.

Crown (NYSE:CCKGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.07. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.20 billion. Crown had a positive return on equity of 40.47% and a negative net margin of 3.07%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the company earned $2.14 EPS. Equities analysts forecast that Crown Holdings, Inc. will post 7.76 EPS for the current year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, August 10th. Crown’s dividend payout ratio is currently -29.43%.

Crown Company Profile

(Get Rating)

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 and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

Further Reading

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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