Rhumbline Advisers Acquires 7,498 Shares of Crown Holdings, Inc. (NYSE:CCK)

Rhumbline Advisers raised its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,349 shares of the industrial products company’s stock after purchasing an additional 7,498 shares during the quarter. Rhumbline Advisers owned 0.13% of Crown worth $12,435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCK. Ameritas Advisory Services LLC purchased a new position in Crown during the 1st quarter worth $91,000. Spire Wealth Management boosted its holdings in Crown by 72.1% during the 1st quarter. Spire Wealth Management now owns 1,170 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 490 shares during the last quarter. Platinum Investment Management Ltd. purchased a new position in Crown during the 4th quarter worth $122,000. Fairfield Bush & CO. purchased a new position in Crown during the 1st quarter worth $143,000. Finally, Captrust Financial Advisors boosted its holdings in Crown by 101.0% during the 1st quarter. Captrust Financial Advisors now owns 1,166 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 586 shares during the last quarter. Institutional investors own 95.18% of the company’s stock.

Crown Price Performance

NYSE CCK opened at $93.87 on Friday. The company has a market cap of $11.32 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 2.90 and a beta of 1.09. Crown Holdings, Inc. has a 52 week low of $66.00 and a 52 week high of $100.39. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 2.57. The firm’s 50-day simple moving average is $89.43 and its two-hundred day simple moving average is $84.80.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, July 24th. The industrial products company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.03. Crown had a return on equity of 27.45% and a net margin of 3.84%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the business posted $2.10 earnings per share. The company’s revenue was down 11.4% on a year-over-year basis. Research analysts predict that Crown Holdings, Inc. will post 6.19 earnings per share for the current year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 9th. Crown’s dividend payout ratio is presently 24.24%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CCK. Barclays lifted their price objective on shares of Crown from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. StockNews.com downgraded shares of Crown from a “hold” rating to a “sell” rating in a report on Saturday. Bank of America cut their price target on shares of Crown from $106.00 to $101.00 in a report on Monday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of Crown from $88.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, August 10th. Finally, Jefferies Financial Group boosted their price target on shares of Crown from $108.00 to $124.00 in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.38.

Insider Activity

In other news, VP Christy L. Kalaus sold 1,914 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $90.67, for a total transaction of $173,542.38. Following the sale, the vice president now directly owns 7,500 shares in the company, valued at $680,025. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.90% of the company’s stock.

Crown Profile

Crown Holdings, Inc, together with its subsidiaries, supplies rigid packaging products in Pennsylvania and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The Americas Beverage segment manufactures recyclable aluminum beverage cans and ends, glass bottles, steel crowns, and aluminum caps.