Mondrian Investment Partners LTD Lowers Stake in Crown Holdings, Inc. (NYSE:CCK)
Mondrian Investment Partners LTD lowered its stake in Crown Holdings, Inc. (NYSE:CCK) by 7.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,620,082 shares of the industrial products company’s stock after selling 125,898 shares during the period. Crown Holdings makes up about 2.8% of Mondrian Investment Partners LTD’s investment portfolio, making the stock its 8th largest position. Mondrian Investment Partners LTD’s holdings in Crown Holdings were worth $96,654,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners boosted its position in shares of Crown Holdings by 1.2% in the second quarter. Boston Partners now owns 5,560,782 shares of the industrial products company’s stock valued at $331,756,000 after buying an additional 64,738 shares during the last quarter. Trent Capital Management Inc. NC purchased a new stake in Crown Holdings during the second quarter valued at approximately $3,416,000. Nine Chapters Capital Management LLC purchased a new stake in Crown Holdings during the second quarter valued at approximately $298,000. Korea Investment CORP raised its stake in Crown Holdings by 232.4% in the second quarter. Korea Investment CORP now owns 45,200 shares of the industrial products company’s stock valued at $2,697,000 after buying an additional 31,600 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Crown Holdings by 183.9% in the second quarter. Sei Investments Co. now owns 35,208 shares of the industrial products company’s stock valued at $2,101,000 after buying an additional 22,806 shares during the last quarter. Institutional investors own 92.46% of the company’s stock.
Crown Holdings, Inc. (NYSE:CCK) opened at 58.14 on Friday. 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 $7.87 billion, a price-to-earnings ratio of 16.65 and a beta of 1.39. The company has a 50 day moving average of $59.41 and a 200 day moving average of $55.99.
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, topping the consensus estimate of $1.10 by $0.02. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Crown Holdings had a return on equity of 66.28% and a net margin of 5.81%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. On average, equities analysts predict that Crown Holdings, Inc. will post $4.03 EPS for the current year.
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Several research firms have commented on CCK. Zacks Investment Research lowered shares of Crown Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of 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 set a $69.00 price target (up from $63.00) on shares of Crown Holdings in a research report on Monday, July 24th. Vertical Research lowered shares of Crown Holdings from a “buy” rating to a “hold” rating and increased their price target for the company 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Crown Holdings presently has a consensus rating of “Hold” and a consensus target price of $64.56.
In related news, VP David A. Beaver sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is owned by insiders.
Crown Holdings Company Profile
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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