11,900 Crown Holdings, Inc. $CCK Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 3.1% in the third quarter, Holdings Channel.com reports. The fund owned 373,600 shares of the industrial products company’s stock after selling 11,900 shares during the quarter. Crown accounts for approximately 1.4% of Hennessy Advisors Inc.’s portfolio, making the stock its 13th largest position. Hennessy Advisors Inc.’s holdings in Crown were worth $39,381,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CCK. Dimensional Fund Advisors LP raised its position in Crown by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,977,123 shares of the industrial products company’s stock worth $198,186,000 after purchasing an additional 32,112 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Crown by 19.3% during the first quarter. Quantinno Capital Management LP now owns 1,156,902 shares of the industrial products company’s stock valued at $115,979,000 after purchasing an additional 186,849 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Crown in the 2nd quarter valued at approximately $112,578,000. Nykredit A S bought a new stake in shares of Crown in the 2nd quarter valued at approximately $99,537,000. Finally, Renaissance Technologies LLC grew its stake in shares of Crown by 14.7% in the 1st quarter. Renaissance Technologies LLC now owns 548,000 shares of the industrial products company’s stock valued at $54,937,000 after purchasing an additional 70,300 shares during the period. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Price Performance

Shares of Crown stock opened at $119.30 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 1.49 and a beta of 0.54. Crown Holdings, Inc. has a 1-year low of $91.31 and a 1-year high of $122.91. The firm’s 50-day moving average price is $112.79 and its two-hundred day moving average price is $108.45.

Crown (NYSE:CCK) last posted its earnings results on Monday, October 19th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.13. Crown had a net margin of 5.78% and a return on equity of 27.41%. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. Crown’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities analysts predict that Crown Holdings, Inc. will post 8.41 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 5th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, November 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. Crown’s dividend payout ratio is 19.50%.

Wall Street Analyst Weigh In

Several research firms recently commented on CCK. Wells Fargo & Company restated a “cautious” rating on shares of Crown in a research report on Monday, October 19th. Royal Bank Of Canada upped their price target on Crown from $131.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. UBS Group increased their price objective on Crown from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Raymond James Financial increased their price objective on Crown from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Crown in a report on Wednesday, July 22nd. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $128.47.

Crown Company Profile

Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.

The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.