Chartwell Investment Partners LLC Sells 2,669 Shares of Crown Holdings, Inc. (NYSE:CCK)

Chartwell Investment Partners LLC reduced its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 12.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,628 shares of the industrial products company’s stock after selling 2,669 shares during the period. Chartwell Investment Partners LLC’s holdings in Crown were worth $1,786,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in Crown in the 3rd quarter valued at $613,000. Jensen Investment Management Inc. boosted its holdings in Crown by 7.8% in the 3rd quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after purchasing an additional 7,280 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Crown by 17.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 10,766 shares of the industrial products company’s stock valued at $1,032,000 after purchasing an additional 1,573 shares during the period. Covestor Ltd boosted its holdings in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares during the period. Finally, RKL Wealth Management LLC bought a new stake in Crown in the 3rd quarter valued at $208,000. 90.93% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown 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 transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Timothy J. Donahue sold 7,500 shares of Crown 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 transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now directly owns 114,402 shares in the company, valued at $10,970,007.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Crown from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup increased their price objective on shares of Crown from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Barclays increased their price objective on shares of Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Robert W. Baird increased their target price on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Stock Down 0.1 %

Shares of NYSE:CCK opened at $94.00 on Wednesday. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The company’s 50-day moving average price is $93.58 and its two-hundred day moving average price is $86.40. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. The firm has a market cap of $11.24 billion, a P/E ratio of 116.04, a P/E/G ratio of 2.07 and a beta of 0.85.

Crown (NYSE:CCK) last issued its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.18. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Crown had a net margin of 0.83% and a return on equity of 24.57%. As a group, research analysts forecast that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Crown Company Profile

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.