Crown Holdings, Inc. (NYSE:CCK) Holdings Increased by Sessa Capital IM L.P.

Sessa Capital IM L.P. lifted its position in Crown Holdings, Inc. (NYSE:CCK) by 153.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,289,374 shares of the industrial products company’s stock after purchasing an additional 1,989,374 shares during the quarter. Crown comprises approximately 7.4% of Sessa Capital IM L.P.’s portfolio, making the stock its 4th largest holding. Sessa Capital IM L.P. owned approximately 2.72% of Crown worth $244,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCK. Rise Advisors LLC purchased a new stake in shares of Crown in the 1st quarter valued at about $27,000. Mather Group LLC. purchased a new position in shares of Crown in the 1st quarter worth about $32,000. Quest Partners LLC bought a new position in shares of Crown during the 4th quarter valued at about $34,000. Quarry LP raised its holdings in shares of Crown by 190.3% during the 4th 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 stake in Crown in the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CCK shares. Royal Bank of Canada reiterated an “outperform” rating and set a $105.00 price target on shares of Crown in a research report on Tuesday. Bank of America lifted their target price on shares of Crown from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price target on shares of Crown from $85.00 to $88.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Citigroup raised their price objective on Crown from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Barclays increased their target price on Crown from $95.00 to $100.00 and gave the company an “overweight” 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.14.

Insider Buying and Selling

In other Crown news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the transaction, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $85.85, for a total value of $643,875.00. Following the sale, the chief executive officer now owns 586,178 shares in the company, valued at approximately $50,323,381.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James H. Miller sold 1,006 shares of Crown stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. The disclosure for this sale can be found here. Insiders have sold a total of 31,006 shares of company stock valued at $2,694,849 over the last ninety days. Company insiders own 0.90% of the company’s stock.

Crown Stock Performance

NYSE:CCK opened at $95.00 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.05 and a debt-to-equity ratio of 2.00. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $96.74. The stock has a market cap of $11.47 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 2.26 and a beta of 0.85. The firm’s fifty day simple moving average is $88.86 and its 200 day simple moving average is $82.60.

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

Crown Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. Crown’s dividend payout ratio is presently 28.82%.

About Crown

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.