Lbp Am Sa Increases Stake in Crown Holdings, Inc. $CCK

Lbp Am Sa raised its holdings in Crown Holdings, Inc. (NYSE:CCK) by 13.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,814 shares of the industrial products company’s stock after buying an additional 9,098 shares during the period. Lbp Am Sa owned approximately 0.07% of Crown worth $7,419,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CWM LLC raised its position in shares of Crown by 73.3% during the 3rd quarter. CWM LLC now owns 72,075 shares of the industrial products company’s stock worth $6,962,000 after acquiring an additional 30,488 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Crown during the third quarter worth about $43,417,000. Vinva Investment Management Ltd increased its position in Crown by 152.9% in the 2nd quarter. Vinva Investment Management Ltd now owns 194,348 shares of the industrial products company’s stock valued at $20,393,000 after acquiring an additional 117,494 shares during the period. Belpointe Asset Management LLC purchased a new stake in Crown during the 2nd quarter valued at approximately $265,000. Finally, Greenland Capital Management LP acquired a new stake in Crown during the 2nd quarter worth approximately $589,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on CCK. Wall Street Zen upgraded Crown from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Citigroup cut their price objective on shares of Crown from $135.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Mizuho increased their price target on shares of Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Truist Financial increased their target price on Crown from $126.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Wells Fargo & Company upped their price objective on Crown from $99.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus price target of $119.62.

Crown Stock Performance

NYSE CCK opened at $104.47 on Tuesday. The business’s 50-day moving average price is $100.84 and its 200 day moving average price is $99.10. The company has a current ratio of 1.16, a quick ratio of 0.76 and a debt-to-equity ratio of 1.65. Crown Holdings, Inc. has a twelve month low of $75.98 and a twelve month high of $109.48. The company has a market capitalization of $12.05 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.20 and a beta of 0.75.

Insider Buying and Selling

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

About Crown

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.