Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in Crown Holdings, Inc. (NYSE:CCK) by 302.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 309,300 shares of the industrial products company’s stock after acquiring an additional 232,500 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.23% of Crown worth $13,844,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in CCK. Tower Research Capital LLC TRC bought a new position in shares of Crown in the 2nd quarter worth approximately $187,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Crown in the 2nd quarter worth approximately $218,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Crown in the 2nd quarter worth approximately $220,000. IBM Retirement Fund purchased a new stake in shares of Crown in the 1st quarter worth approximately $276,000. Finally, Gideon Capital Advisors Inc. purchased a new stake in shares of Crown in the 2nd quarter worth approximately $280,000. 95.79% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. Zacks Investment Research downgraded Crown from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, June 20th. Bank of America downgraded Crown from a “buy” rating to a “neutral” rating and cut their price target for the stock from $59.00 to $51.00 in a research note on Thursday, July 19th. Citigroup cut their price target on Crown from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. ValuEngine downgraded Crown from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 17th. Finally, UBS Group cut their price target on Crown from $59.00 to $50.00 and set a “$44.54” rating on the stock in a research note on Thursday, July 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $59.00.
Shares of CCK opened at $44.83 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.69 and a debt-to-equity ratio of 8.12. Crown Holdings, Inc. has a 12 month low of $40.09 and a 12 month high of $62.27. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.37.
Crown (NYSE:CCK) last issued its earnings results on Wednesday, July 18th. The industrial products company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.03). Crown had a net margin of 3.14% and a return on equity of 58.64%. The business had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was up 41.0% on a year-over-year basis. equities research analysts expect that Crown Holdings, Inc. will post 5.23 earnings per share for the current year.
In other news, Director William S. Urkiel purchased 2,500 shares of the stock in a transaction dated Friday, August 17th. The shares were purchased at an average cost of $40.25 per share, with a total value of $100,625.00. Following the acquisition, the director now directly owns 46,594 shares of the company’s stock, valued at $1,875,408.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William S. Urkiel purchased 1,500 shares of the stock in a transaction dated Thursday, August 2nd. The shares were purchased at an average cost of $44.30 per share, for a total transaction of $66,450.00. Following the completion of the acquisition, the director now directly owns 44,094 shares in the company, valued at $1,953,364.20. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.
Crown Company Profile
Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.
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