Atria Wealth Solutions Inc. Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Atria Wealth Solutions Inc. bought a new position in Crown Holdings, Inc. (NYSE:CCK) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,388 shares of the industrial products company’s stock, valued at approximately $482,000.

A number of other institutional investors have also recently added to or reduced their stakes in CCK. Larson Financial Group LLC lifted its position in shares of Crown by 47.6% during the 1st quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 107 shares during the last quarter. Signaturefd LLC lifted its position in shares of Crown by 161.2% during the 1st quarter. Signaturefd LLC now owns 397 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 245 shares during the last quarter. Colonial Trust Co SC lifted its position in shares of Crown by 88.0% during the 4th quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 352 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Crown by 33.8% during the 1st quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 205 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Crown during the 4th quarter valued at $91,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Trading Up 1.3%

NYSE CCK opened at $102.87 on Thursday. Crown Holdings, Inc. has a 1-year low of $75.98 and a 1-year high of $109.48. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $11.97 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. The firm’s fifty day simple moving average is $103.17 and its 200-day simple moving average is $94.80.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.29. Crown had a net margin of 4.64% and a return on equity of 27.15%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the business posted $1.81 earnings per share. Crown’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Crown’s dividend payout ratio is 21.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Baird R W downgraded Crown from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Royal Bank Of Canada increased their price objective on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Loop Capital increased their price objective on Crown from $129.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded Crown from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Bank of America increased their target price on Crown from $110.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.67.

Insiders Place Their Bets

In other news, CAO Gerard H. Gifford sold 8,222 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $102.93, for a total value of $846,290.46. Following the transaction, the chief accounting officer directly owned 122,585 shares of the company’s stock, valued at approximately $12,617,674.05. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christy L. Kalaus sold 2,130 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the transaction, the vice president directly owned 4,500 shares in the company, valued at $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

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.