Insider Selling: Crown Holdings, Inc. (NYSE:CCK) Insider Sells 5,000 Shares of Stock
Crown Holdings, Inc. (NYSE:CCK – Get Rating) insider Djalma Novaes, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $105.38, for a total value of $526,900.00. Following the transaction, the insider now directly owns 80,328 shares in the company, valued at $8,464,964.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE:CCK traded up $0.08 during midday trading on Wednesday, reaching $104.52. 21,944 shares of the company’s stock traded hands, compared to its average volume of 1,125,389. The company has a market cap of $12.85 billion, a price-to-earnings ratio of -23.36, a P/E/G ratio of 2.61 and a beta of 1.11. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.59 and a current ratio of 0.99. Crown Holdings, Inc. has a one year low of $95.27 and a one year high of $130.42. The stock has a 50 day moving average of $113.77 and a 200 day moving average of $113.81.
Crown (NYSE:CCK – Get Rating) last announced its quarterly earnings results on Monday, April 25th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.19. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $2.94 billion. Crown had a positive return on equity of 39.60% and a negative net margin of 4.63%. The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. Sell-side analysts predict that Crown Holdings, Inc. will post 8.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Wednesday, May 11th. Crown’s payout ratio is currently -19.69%.
Several large investors have recently made changes to their positions in CCK. Marshall Wace LLP bought a new position in Crown in the first quarter valued at about $321,000. First Trust Advisors LP lifted its holdings in Crown by 2.5% in the first quarter. First Trust Advisors LP now owns 75,709 shares of the industrial products company’s stock valued at $4,131,000 after acquiring an additional 1,844 shares during the period. Morgan Stanley lifted its holdings in Crown by 28.0% in the second quarter. Morgan Stanley now owns 753,803 shares of the industrial products company’s stock valued at $77,046,000 after acquiring an additional 165,068 shares during the period. American Century Companies Inc. lifted its holdings in Crown by 23.6% in the third quarter. American Century Companies Inc. now owns 5,830 shares of the industrial products company’s stock valued at $588,000 after acquiring an additional 1,113 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in Crown by 36.6% in the third quarter. Macquarie Group Ltd. now owns 372,509 shares of the industrial products company’s stock valued at $37,542,000 after acquiring an additional 99,809 shares during the period. 91.52% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on CCK shares. TheStreet cut Crown from a “b+” rating to a “c+” rating in a research note on Friday, February 11th. Zacks Investment Research cut Crown from a “buy” rating to a “hold” rating and set a $127.00 price target on the stock. in a research note on Tuesday, April 12th. Wells Fargo & Company upped their price target on Crown from $132.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 13th. Mizuho reduced their price target on Crown from $131.00 to $126.00 in a research note on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Crown from $136.00 to $142.00 in a research note on Friday, February 11th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $142.00.
Crown Company Profile (Get Rating)
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.
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