Markel Group Inc. raised its holdings in Crown Holdings, Inc. (NYSE:CCK – Free Report) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 212,000 shares of the industrial products company’s stock after purchasing an additional 22,500 shares during the quarter. Markel Group Inc. owned 0.18% of Crown worth $21,830,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BOK Financial Private Wealth Inc. purchased a new stake in Crown in the fourth quarter valued at $42,000. Global Retirement Partners LLC raised its position in Crown by 305.8% in the fourth quarter. Global Retirement Partners LLC now owns 2,439 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 1,838 shares during the period. Leonteq Securities AG purchased a new stake in Crown in the fourth quarter valued at $307,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Crown in the fourth quarter valued at $3,855,000. Finally, Larson Financial Group LLC raised its position in Crown by 81.9% in the fourth quarter. Larson Financial Group LLC now owns 695 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.
Crown Price Performance
Shares of NYSE CCK opened at $96.75 on Friday. The stock’s 50-day moving average is $101.77 and its two-hundred day moving average is $103.14. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.12 and a quick ratio of 0.70. Crown Holdings, Inc. has a 1-year low of $89.21 and a 1-year high of $116.62. The company has a market cap of $10.81 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.59 and a beta of 0.65.
Crown Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, May 14th. This represents a $1.40 annualized dividend and a yield of 1.4%. Crown’s dividend payout ratio is 22.29%.
Insider Activity
In other Crown news, COO Djalma Novaes, Jr. sold 29,734 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $114.80, for a total transaction of $3,413,463.20. Following the sale, the chief operating officer owned 88,052 shares in the company, valued at $10,108,369.60. This represents a 25.24% 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 7,500 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $106.85, for a total value of $801,375.00. Following the sale, the chief executive officer owned 451,070 shares in the company, valued at approximately $48,196,829.50. This trade represents a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 44,734 shares of company stock worth $5,002,338. 0.90% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
CCK has been the topic of several research analyst reports. UBS Group cut their price objective on Crown from $120.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Mizuho lifted their target price on Crown from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Royal Bank Of Canada dropped their target price on Crown from $140.00 to $129.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Citigroup lifted their target price on Crown from $127.00 to $129.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised Crown from a “hold” rating to a “buy” rating in a research report on Saturday. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and an average price target of $120.00.
View Our Latest Analysis on Crown
Crown 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.
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