GAMMA Investing LLC Has $107,000 Position in Crown Holdings, Inc. (NYSE:CCK)

GAMMA Investing LLC boosted its position in Crown Holdings, Inc. (NYSE:CCK) by 110.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,201 shares of the industrial products company’s stock after purchasing an additional 630 shares during the period. GAMMA Investing LLC’s holdings in Crown were worth $107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CCK. AQR Capital Management LLC increased its stake in shares of Crown by 30.6% in the fourth quarter. AQR Capital Management LLC now owns 1,705,081 shares of the industrial products company’s stock valued at $140,720,000 after buying an additional 399,842 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Crown by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,553,632 shares of the industrial products company’s stock valued at $128,464,000 after buying an additional 12,784 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Crown by 22.0% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,549,470 shares of the industrial products company’s stock valued at $128,126,000 after buying an additional 279,596 shares during the period. Norges Bank acquired a new stake in shares of Crown in the fourth quarter valued at about $113,568,000. Finally, Northern Trust Corp increased its stake in shares of Crown by 32.0% in the fourth quarter. Northern Trust Corp now owns 1,092,911 shares of the industrial products company’s stock valued at $90,373,000 after buying an additional 264,803 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Mizuho increased their price target on Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Citigroup raised their target price on Crown from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley raised their target price on Crown from $114.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 25th. UBS Group raised their target price on Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company raised their target price on Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and a consensus price target of $113.27.

Insider Buying and Selling

In other news, COO Gerard H. Gifford sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the transaction, the chief operating officer owned 135,014 shares in the company, valued at $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christy L. Kalaus sold 2,130 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the transaction, the vice president owned 4,500 shares in the company, valued at $447,345. This represents a 32.13% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Crown Stock Up 0.9%

Shares of NYSE:CCK opened at $107.90 on Monday. The business’s 50 day simple moving average is $99.90 and its two-hundred day simple moving average is $91.02. The firm has a market cap of $12.56 billion, a P/E ratio of 23.20, a PEG ratio of 1.86 and a beta of 0.76. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.56 and a current ratio of 0.87. Crown Holdings, Inc. has a 52-week low of $71.62 and a 52-week high of $108.05.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.45. Crown had a return on equity of 26.98% and a net margin of 4.62%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the company earned $1.02 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.96%. Crown’s dividend payout ratio is presently 22.37%.

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.