AlphaQuest LLC Has $3.07 Million Holdings in Crown Holdings, Inc. $CCK

AlphaQuest LLC lifted its position in Crown Holdings, Inc. (NYSE:CCK) by 89.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,829 shares of the industrial products company’s stock after purchasing an additional 15,070 shares during the quarter. AlphaQuest LLC’s holdings in Crown were worth $3,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCK. Arizona State Retirement System increased its holdings in Crown by 0.7% in the 3rd quarter. Arizona State Retirement System now owns 34,411 shares of the industrial products company’s stock valued at $3,324,000 after buying an additional 225 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of Crown during the 3rd quarter valued at about $459,000. SYM FINANCIAL Corp increased its stake in Crown by 27.2% in the third quarter. SYM FINANCIAL Corp now owns 3,244 shares of the industrial products company’s stock valued at $313,000 after acquiring an additional 694 shares during the period. New York State Common Retirement Fund increased its stake in Crown by 1.2% in the third quarter. New York State Common Retirement Fund now owns 56,890 shares of the industrial products company’s stock valued at $5,495,000 after acquiring an additional 687 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Crown by 3.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,559 shares of the industrial products company’s stock worth $3,145,000 after purchasing an additional 1,183 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CCK shares. Wall Street Zen raised Crown from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Weiss Ratings restated a “buy (b)” rating on shares of Crown in a research report on Monday, December 29th. UBS Group upped their price target on Crown from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Wells Fargo & Company increased their price objective on Crown from $99.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Finally, Raymond James Financial restated an “outperform” rating and issued a $115.00 target price (up previously from $110.00) on shares of Crown in a research note on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Crown currently has an average rating of “Moderate Buy” and an average target price of $119.62.

Insider Activity

In other news, CEO Timothy J. Donahue sold 29,024 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $105.00, for a total transaction of $3,047,520.00. Following the sale, the chief executive officer directly owned 411,556 shares of the company’s stock, valued at $43,213,380. This represents a 6.59% 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 link. Also, COO Djalma Novaes, Jr. sold 19,754 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $101.02, for a total transaction of $1,995,549.08. Following the completion of the transaction, the chief operating officer owned 96,841 shares of the company’s stock, valued at $9,782,877.82. This trade represents a 16.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,254 shares of company stock valued at $5,933,134 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Crown Stock Performance

Shares of NYSE:CCK opened at $104.31 on Friday. The business has a fifty day moving average of $101.36 and a 200-day moving average of $99.15. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.76 and a current ratio of 1.16. Crown Holdings, Inc. has a twelve month low of $75.98 and a twelve month high of $109.48. The firm has a market cap of $12.03 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.20 and a beta of 0.75.

Crown Company Profile

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.