Brooklyn Investment Group Buys Shares of 462 Crown Holdings, Inc. (NYSE:CCK)

Brooklyn Investment Group bought a new stake in Crown Holdings, Inc. (NYSE:CCK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 462 shares of the industrial products company’s stock, valued at approximately $44,000.

A number of other institutional investors have also recently added to or reduced their stakes in CCK. Sessa Capital IM L.P. lifted its stake in Crown by 153.0% in the second quarter. Sessa Capital IM L.P. now owns 3,289,374 shares of the industrial products company’s stock valued at $244,697,000 after acquiring an additional 1,989,374 shares during the last quarter. Metropolis Capital Ltd lifted its stake in Crown by 269.7% in the third quarter. Metropolis Capital Ltd now owns 1,455,752 shares of the industrial products company’s stock valued at $139,578,000 after acquiring an additional 1,062,001 shares during the last quarter. Jennison Associates LLC lifted its stake in Crown by 125.0% in the third quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock valued at $129,698,000 after acquiring an additional 751,530 shares during the last quarter. FMR LLC lifted its stake in shares of Crown by 9.3% in the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after buying an additional 749,085 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Crown by 31.5% in the second quarter. 1832 Asset Management L.P. now owns 1,976,500 shares of the industrial products company’s stock worth $147,032,000 after buying an additional 473,000 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Trading Down 1.0 %

Shares of Crown stock opened at $92.09 on Friday. The firm has a market capitalization of $11.02 billion, a PE ratio of 113.69, a price-to-earnings-growth ratio of 2.06 and a beta of 0.85. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. The company’s fifty day moving average price is $93.53 and its two-hundred day moving average price is $87.10. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46.

Crown (NYSE:CCK) last announced its quarterly 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 firm 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%. On average, analysts expect that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, November 14th. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Insider Buying and Selling at Crown

In other news, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $90.58, for a total value of $679,350.00. Following the sale, the chief executive officer now owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. This represents a 1.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gerard H. Gifford sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total transaction of $958,900.00. Following the completion of the sale, the chief operating officer now directly owns 114,402 shares in the company, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,506 shares of company stock valued at $3,157,399 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CCK. Wells Fargo & Company boosted their price objective on shares of Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Royal Bank of Canada boosted their price objective on shares of Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Mizuho set a $110.00 price objective on shares of Crown in a research note on Friday, October 18th. Finally, Citigroup boosted their price objective on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Crown 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.