AQR Capital Management LLC Purchases 404,250 Shares of Crown Holdings, Inc. (NYSE:CCK)

AQR Capital Management LLC lifted its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 121.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 736,478 shares of the industrial products company’s stock after acquiring an additional 404,250 shares during the period. AQR Capital Management LLC owned approximately 0.61% of Crown worth $54,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new position in Crown during the first quarter valued at approximately $27,000. Mather Group LLC. acquired a new position in shares of Crown during the 1st quarter worth $32,000. Quest Partners LLC bought a new stake in shares of Crown during the 4th quarter worth $34,000. Quarry LP boosted its stake in Crown by 190.3% in the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in Crown in the first quarter valued at about $41,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Insider Activity at Crown

In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $85.03, for a total value of $1,275,450.00. Following the transaction, the chief executive officer now directly owns 593,678 shares of the company’s stock, valued at $50,480,440.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Crown news, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $85.85, for a total value of $643,875.00. Following the completion of the sale, the chief executive officer now directly owns 586,178 shares of the company’s stock, valued at $50,323,381.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $85.03, for a total transaction of $1,275,450.00. Following the transaction, the chief executive officer now owns 593,678 shares in the company, valued at approximately $50,480,440.34. The disclosure for this sale can be found here. Insiders have sold a total of 31,006 shares of company stock worth $2,694,849 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

CCK has been the subject of a number of research reports. Bank of America increased their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Barclays raised their target price on shares of Crown from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. UBS Group lowered their price target on shares of Crown from $112.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Morgan Stanley raised their price objective on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company upped their target price on Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.14.

Crown Stock Performance

Shares of CCK stock opened at $94.74 on Friday. The stock has a market capitalization of $11.44 billion, a PE ratio of 27.30, a PEG ratio of 2.26 and a beta of 0.85. The business’s 50 day simple moving average is $89.21 and its 200 day simple moving average is $82.71. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.74.

Crown (NYSE:CCK) last posted its quarterly earnings data on Monday, July 22nd. The industrial products company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.22. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.06 billion. Crown had a net margin of 3.68% and a return on equity of 23.96%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 EPS. As a group, research analysts forecast that Crown Holdings, Inc. will post 6.15 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, August 15th. Crown’s dividend payout ratio is 28.82%.

Crown Company Profile

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.