Strs Ohio Has $58.88 Million Holdings in Crown Holdings, Inc. (CCK)
Strs Ohio boosted its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 9.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,226,597 shares of the industrial products company’s stock after buying an additional 110,000 shares during the period. Strs Ohio’s holdings in Crown were worth $58,876,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CCK. Tower Research Capital LLC TRC acquired a new stake in Crown during the second quarter worth about $187,000. Pennsylvania Trust Co acquired a new stake in Crown during the third quarter worth about $202,000. Oppenheimer Asset Management Inc. acquired a new stake in Crown during the second quarter worth about $218,000. Cornerstone Wealth Management LLC acquired a new stake in Crown during the second quarter worth about $220,000. Finally, Iberiabank Corp acquired a new stake in Crown during the third quarter worth about $240,000. Hedge funds and other institutional investors own 94.68% of the company’s stock.
A number of equities research analysts have issued reports on CCK shares. UBS Group reduced their price objective on shares of Crown from $59.00 to $50.00 and set a “$44.54” rating on the stock in a research note on Thursday, July 19th. TheStreet upgraded shares of Crown from a “c+” rating to a “b-” rating in a research note on Wednesday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of Crown from $69.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, July 23rd. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price objective on shares of Crown in a research note on Friday, July 20th. Finally, Citigroup reduced their price objective on shares of Crown from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Crown presently has a consensus rating of “Hold” and a consensus price target of $60.11.
Crown (NYSE:CCK) last posted its earnings results on Wednesday, October 17th. The industrial products company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Crown had a net margin of 2.81% and a return on equity of 63.18%. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. As a group, analysts anticipate that Crown Holdings, Inc. will post 5.2 EPS for the current year.
In related news, Director William S. Urkiel bought 2,500 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was purchased at an average price of $40.25 per share, with a total value of $100,625.00. Following the completion of the acquisition, the director now owns 46,594 shares of the company’s stock, valued at $1,875,408.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director William S. Urkiel bought 1,500 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was bought at an average cost of $44.30 per share, with a total value of $66,450.00. Following the acquisition, the director now directly owns 44,094 shares of the company’s stock, valued at approximately $1,953,364.20. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.
Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
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