Dupont Capital Management Corp Buys 19,362 Shares of Crown Holdings, Inc. (CCK)
Dupont Capital Management Corp increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 15.5% during the second quarter, Holdings Channel reports. The firm owned 144,502 shares of the industrial products company’s stock after buying an additional 19,362 shares during the period. Dupont Capital Management Corp’s holdings in Crown Holdings were worth $8,621,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Crown Holdings by 21.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 47,111 shares of the industrial products company’s stock worth $2,811,000 after buying an additional 8,214 shares during the last quarter. Rational Advisors LLC acquired a new stake in Crown Holdings during the second quarter worth $292,000. DekaBank Deutsche Girozentrale boosted its stake in Crown Holdings by 19.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 297,338 shares of the industrial products company’s stock worth $17,610,000 after buying an additional 49,035 shares during the last quarter. Boston Partners boosted its stake in Crown Holdings by 1.2% in the second quarter. Boston Partners now owns 5,560,782 shares of the industrial products company’s stock worth $331,756,000 after buying an additional 64,738 shares during the last quarter. Finally, Trent Capital Management Inc. NC acquired a new stake in Crown Holdings during the second quarter worth $3,416,000. 92.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Crown Holdings, Inc. (NYSE:CCK) opened at 58.40 on Tuesday. Crown Holdings, Inc. has a 12 month low of $51.57 and a 12 month high of $60.96. The firm’s 50-day moving average price is $59.43 and its 200-day moving average price is $56.08. The firm has a market cap of $7.90 billion, a PE ratio of 16.73 and a beta of 1.39.
Crown Holdings (NYSE:CCK) last announced its earnings results on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.02. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Analysts expect that Crown Holdings, Inc. will post $4.03 earnings per share for the current year.
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A number of analysts have recently weighed in on the company. Zacks Investment Research cut Crown Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub cut Crown Holdings from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Barclays PLC reissued an “overweight” rating and issued a $69.00 price objective (up previously from $63.00) on shares of Crown Holdings in a research report on Monday, July 24th. Vertical Research cut Crown Holdings from a “buy” rating to a “hold” rating and raised their price objective for the stock from $60.00 to $64.00 in a research report on Friday, July 21st. Finally, KeyCorp reissued a “hold” rating on shares of Crown Holdings in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $64.56.
In other news, VP David A. Beaver sold 1,000 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $56.05, for a total transaction of $56,050.00. Following the completion of the sale, the vice president now owns 2,398 shares in the company, valued at $134,407.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.
About Crown Holdings
Crown Holdings, Inc is engaged in the design, manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions: Americas, Europe and Asia Pacific. Within each division, the Company is organized along product lines. The Company’s segments within the Americas Division are Americas Beverage and North America Food.
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