Insider Selling: Crown Holdings, Inc. (NYSE:CCK) CEO Sells 7,500 Shares of Stock

Crown Holdings, Inc. (NYSE:CCK) CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $90.58, for a total transaction of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares in the company, valued at approximately $52,416,653.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Crown Stock Up 0.9 %

NYSE CCK traded up $0.85 during mid-day trading on Friday, reaching $91.23. The stock had a trading volume of 892,216 shares, compared to its average volume of 1,149,795. The stock has a market cap of $11.02 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.14 and a beta of 0.85. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 0.73. The company has a fifty day moving average price of $83.35 and a 200 day moving average price of $80.84. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $93.79.

Crown (NYSE:CCK) last released its earnings results on Monday, July 22nd. The industrial products company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.22. Crown had a return on equity of 23.96% and a net margin of 3.68%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business earned $1.68 earnings per share. Crown’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts expect that Crown Holdings, Inc. will post 6.16 earnings per share for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. Crown’s dividend payout ratio is currently 28.82%.

Institutional Trading of Crown

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in Crown in the first quarter worth about $27,000. Mather Group LLC. purchased a new position in shares of Crown during the 1st quarter valued at approximately $32,000. Quest Partners LLC purchased a new stake in Crown during the fourth quarter worth $34,000. Quarry LP increased its position in shares of Crown by 190.3% in the fourth quarter. Quarry LP now owns 421 shares of the industrial products company’s stock valued at $39,000 after buying an additional 276 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Crown in the first quarter valued at about $41,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CCK. Truist Financial lifted their price target on shares of Crown from $88.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. UBS Group reduced their price target on Crown from $112.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Morgan Stanley lifted their target price on Crown from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Crown from $85.00 to $88.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.14.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.