11,003 Shares in Crown Holdings, Inc. (NYSE:CCK) Bought by AlphaCrest Capital Management LLC

AlphaCrest Capital Management LLC acquired a new position in Crown Holdings, Inc. (NYSE:CCKGet Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,003 shares of the industrial products company’s stock, valued at approximately $1,217,000.

Several other hedge funds have also modified their holdings of CCK. Standard Investments LLC raised its position in shares of Crown by 164.4% in the third quarter. Standard Investments LLC now owns 2,500,000 shares of the industrial products company’s stock worth $251,950,000 after buying an additional 1,554,553 shares in the last quarter. Millennium Management LLC raised its position in Crown by 221.5% during the third quarter. Millennium Management LLC now owns 2,209,928 shares of the industrial products company’s stock valued at $222,717,000 after purchasing an additional 1,522,563 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Crown by 235.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,192,972 shares of the industrial products company’s stock valued at $131,967,000 after purchasing an additional 836,832 shares in the last quarter. Boston Partners raised its position in Crown by 24.4% during the fourth quarter. Boston Partners now owns 2,023,336 shares of the industrial products company’s stock valued at $223,818,000 after purchasing an additional 397,454 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in Crown by 28.4% during the third quarter. Voya Investment Management LLC now owns 1,739,119 shares of the industrial products company’s stock valued at $175,268,000 after purchasing an additional 384,418 shares in the last quarter. Institutional investors own 91.52% of the company’s stock.

In other Crown news, Director John W. Conway sold 336 shares of the firm’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $123.54, for a total value of $41,509.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hock Huat Goh sold 5,717 shares of Crown stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $120.00, for a total transaction of $686,040.00. The disclosure for this sale can be found here. Insiders sold 13,706 shares of company stock valued at $1,684,110 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

A number of research firms have weighed in on CCK. Wells Fargo & Company raised their price target on Crown from $132.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, April 13th. BMO Capital Markets upgraded Crown from a “market perform” rating to an “outperform” rating and raised their price target for the company from $110.00 to $140.00 in a research report on Thursday, February 10th. Morgan Stanley raised their price target on Crown from $129.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, January 20th. StockNews.com assumed coverage on Crown in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, TheStreet cut Crown from a “b+” rating to a “c+” rating in a research note on Friday, February 11th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $142.83.

NYSE CCK opened at $103.66 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.99 and a quick ratio of 0.59. Crown Holdings, Inc. has a 1 year low of $95.27 and a 1 year high of $130.42. The business’s 50-day moving average is $119.26 and its 200 day moving average is $113.97.

Crown (NYSE:CCKGet Rating) last posted its earnings results on Monday, April 25th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.19. Crown had a positive return on equity of 39.60% and a negative net margin of 4.63%. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the firm earned $1.83 earnings per share. Crown’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, research analysts predict that Crown Holdings, Inc. will post 8.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 26th. Shareholders of record on Thursday, May 12th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, May 11th. This represents a $0.88 annualized dividend and a yield of 0.85%. Crown’s dividend payout ratio (DPR) is presently -19.69%.

About Crown (Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

Further Reading

Institutional Ownership by Quarter for Crown (NYSE:CCK)

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