MayTech Global Investments LLC Buys Shares of 2,123 Crown Holdings, Inc. (NYSE:CCK)

MayTech Global Investments LLC purchased a new stake in Crown Holdings, Inc. (NYSE:CCK) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,123 shares of the industrial products company’s stock, valued at approximately $204,000. Crown makes up 0.0% of MayTech Global Investments LLC’s investment portfolio, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in Crown by 6.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 158 shares during the period. GAMMA Investing LLC increased its stake in Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 163 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 176 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Crown by 2.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after acquiring an additional 183 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 209 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Crown

In other news, COO Gerard H. Gifford sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the completion of the transaction, the chief operating officer now owns 114,402 shares in the company, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 578,678 shares of the company’s stock, valued at approximately $52,416,653.24. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is currently owned by corporate insiders.

Crown Trading Up 0.9 %

NYSE CCK opened at $93.02 on Thursday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $98.46. The stock has a market cap of $11.13 billion, a P/E ratio of 114.84, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The stock has a 50 day simple moving average of $93.59 and a two-hundred day simple moving average of $87.00.

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

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.08%. Crown’s dividend payout ratio (DPR) is presently 123.46%.

Analysts Set New Price Targets

A number of research firms have commented on CCK. Morgan Stanley boosted their price target on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Barclays increased their target price on Crown from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Saturday, October 26th. Truist Financial raised their price objective on Crown from $95.00 to $103.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company upped their target price on Crown from $97.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average 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.