ING Groep NV Buys New Holdings in Crown Holdings, Inc. (NYSE:CCK)

ING Groep NV purchased a new position in Crown Holdings, Inc. (NYSE:CCK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,900 shares of the industrial products company’s stock, valued at approximately $1,908,000.

A number of other large investors have also bought and sold shares of the stock. CANADA LIFE ASSURANCE Co grew its holdings in shares of Crown by 16.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 103,013 shares of the industrial products company’s stock worth $8,163,000 after purchasing an additional 14,501 shares during the last quarter. Sei Investments Co. increased its position in shares of Crown by 139.2% in the second quarter. Sei Investments Co. now owns 122,380 shares of the industrial products company’s stock valued at $9,104,000 after acquiring an additional 71,227 shares during the period. Jensen Investment Management Inc. raised its stake in shares of Crown by 7.8% during the third quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after acquiring an additional 7,280 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Crown by 16.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 131,635 shares of the industrial products company’s stock worth $10,888,000 after purchasing an additional 18,165 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Crown by 22.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 198,984 shares of the industrial products company’s stock worth $15,772,000 after purchasing an additional 36,895 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the completion of the sale, the chief executive officer now owns 578,678 shares of the company’s stock, valued at $52,416,653.24. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,506 shares of company stock worth $3,157,399. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

CCK has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Mizuho set a $110.00 price target on Crown in a research note on Friday, October 18th. Truist Financial boosted their price objective on shares of Crown from $95.00 to $103.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Finally, Wells Fargo & Company boosted their price target on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.62.

Crown Price Performance

CCK stock opened at $89.86 on Friday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 110.94, a PEG ratio of 2.05 and a beta of 0.85. The firm has a 50 day moving average price of $93.58 and a 200-day moving average price of $86.55. Crown Holdings, Inc. has a 52-week low of $69.61 and a 52-week high of $98.46.

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

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.11%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

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.