Qsemble Capital Management LP Buys 2,659 Shares of Crown Holdings, Inc. (NYSE:CCK)

Qsemble Capital Management LP lifted its stake in Crown Holdings, Inc. (NYSE:CCK) by 31.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,113 shares of the industrial products company’s stock after buying an additional 2,659 shares during the period. Qsemble Capital Management LP’s holdings in Crown were worth $1,066,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CCK. GAMMA Investing LLC raised its stake in shares of 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 raised its position in 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 purchasing an additional 277 shares in the last quarter. Blue Trust Inc. lifted its stake in Crown by 172.6% during the second quarter. Blue Trust Inc. now owns 608 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 385 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Crown during the third quarter valued at approximately $48,000. Finally, Fifth Third Bancorp grew its stake 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 purchasing an additional 176 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CCK shares. Loop Capital raised their target price on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley increased their price objective on Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Mizuho set a $110.00 target price on shares of Crown in a research note on Friday, October 18th. Citigroup increased their target price on shares of Crown from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped 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. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown Stock Down 0.4 %

NYSE:CCK opened at $92.25 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46. The stock’s fifty day simple moving average is $93.60 and its 200-day simple moving average is $86.90. The firm has a market capitalization of $11.04 billion, a P/E ratio of 113.89, a P/E/G ratio of 2.06 and a beta of 0.85.

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

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, November 14th. Crown’s dividend payout ratio (DPR) is 123.46%.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of the business’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the sale, the chief executive officer now owns 563,678 shares in the company, valued at $54,524,572.94. This trade represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,506 shares of company stock worth $3,157,399 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

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.