Point72 Asia Singapore Pte. Ltd. Acquires Shares of 738 Crown Holdings, Inc. (NYSE:CCK)

Point72 Asia Singapore Pte. Ltd. bought a new position in Crown Holdings, Inc. (NYSE:CCK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 738 shares of the industrial products company’s stock, valued at approximately $71,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew 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 valued at $30,000 after buying an additional 163 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in shares of Crown in the third quarter valued at $44,000. Blue Trust Inc. raised its stake in shares of Crown by 172.6% during the 2nd quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 385 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new stake in Crown during the 3rd quarter worth about $48,000. Institutional investors own 90.93% of the company’s stock.

Insider Activity

In other Crown news, Director James H. Miller sold 1,006 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $95.60, for a total value of $96,173.60. Following the sale, the director now owns 12,424 shares of the company’s stock, valued at $1,187,734.40. This trade represents a 7.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $93.00, for a total transaction of $697,500.00. Following the transaction, the chief executive officer now directly owns 571,178 shares of the company’s stock, valued at approximately $53,119,554. This trade represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,006 shares of company stock valued at $2,478,049. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Truist Financial upped their target price on shares of Crown from $95.00 to $103.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Wells Fargo & Company raised their price target on shares of Crown from $97.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Morgan Stanley upped their price target on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Mizuho set a $110.00 price objective on Crown in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Stock Performance

NYSE:CCK opened at $88.34 on Friday. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 109.06, a PEG ratio of 2.04 and a beta of 0.83. The business has a 50 day moving average of $93.11 and a 200 day moving average of $87.31. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.21 and a quick ratio of 0.84. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $98.46.

Crown (NYSE:CCK) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. On average, sell-side analysts predict that Crown Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 1.13%. Crown’s payout ratio is 123.46%.

About Crown

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.