Janney Montgomery Scott LLC Has $843,000 Position in Crown Holdings, Inc. (NYSE:CCK)
Janney Montgomery Scott LLC raised its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 126.8% during the second quarter, Holdings Channel reports. The fund owned 14,131 shares of the industrial products company’s stock after buying an additional 7,900 shares during the period. Janney Montgomery Scott LLC’s holdings in Crown Holdings were worth $843,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in CCK. Creative Planning increased its stake in shares of Crown Holdings by 1.3% in the second quarter. Creative Planning now owns 1,755 shares of the industrial products company’s stock valued at $105,000 after buying an additional 23 shares during the last quarter. Cadence Capital Management LLC purchased a new stake in shares of Crown Holdings during the first quarter valued at about $200,000. Daiwa Securities Group Inc. increased its stake in shares of Crown Holdings by 14.7% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the industrial products company’s stock valued at $207,000 after buying an additional 500 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Crown Holdings during the first quarter valued at about $207,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of Crown Holdings by 13.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,268 shares of the industrial products company’s stock valued at $226,000 after buying an additional 492 shares during the last quarter. 92.98% of the stock is owned by hedge funds and other institutional investors.
Crown Holdings, Inc. (NYSE:CCK) opened at 58.40 on Tuesday. The stock’s 50 day moving average is $59.43 and its 200-day moving average is $56.08. Crown Holdings, Inc. has a 12 month low of $51.57 and a 12 month high of $60.96. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 16.73 and a beta of 1.39.
Crown Holdings (NYSE:CCK) last posted its earnings results on Wednesday, July 19th. The industrial products company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.02. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.15 billion. Crown Holdings had a net margin of 5.81% and a return on equity of 66.28%. Crown Holdings’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.19 EPS. On average, equities research analysts expect that Crown Holdings, Inc. will post $4.03 earnings per share for the current year.
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CCK has been the subject of several analyst reports. Zacks Investment Research raised shares of Crown Holdings from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, June 6th. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price objective on shares of Crown Holdings in a research note on Monday, June 5th. Jefferies Group LLC reissued a “buy” rating on shares of Crown Holdings in a research note on Wednesday, May 24th. ValuEngine raised shares of Crown Holdings from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Finally, BidaskClub raised shares of Crown Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $64.56.
In other news, VP David A. Beaver sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $56.05, for a total value of $56,050.00. Following the transaction, the vice president now directly owns 2,398 shares in the company, valued at approximately $134,407.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
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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