Vaughan Nelson Investment Management L.P. Raises Position in Crown Holdings, Inc. (CCK)

Vaughan Nelson Investment Management L.P. raised its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 11.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,387,415 shares of the industrial products company’s stock after buying an additional 145,650 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Crown were worth $62,101,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its holdings in Crown by 15.3% during the first quarter. BlackRock Inc. now owns 7,945,196 shares of the industrial products company’s stock worth $403,218,000 after buying an additional 1,054,407 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Crown by 66.5% during the first quarter. JPMorgan Chase & Co. now owns 4,773,755 shares of the industrial products company’s stock worth $242,269,000 after buying an additional 1,905,831 shares in the last quarter. CI Global Investments Inc. boosted its holdings in Crown by 466.7% during the first quarter. CI Global Investments Inc. now owns 3,268,774 shares of the industrial products company’s stock worth $165,890,000 after buying an additional 2,691,929 shares in the last quarter. Cooke & Bieler LP boosted its stake in Crown by 36.8% in the 1st quarter. Cooke & Bieler LP now owns 2,241,374 shares of the industrial products company’s stock worth $113,749,000 after purchasing an additional 603,518 shares during the period. Finally, Millennium Management LLC boosted its stake in Crown by 19.2% in the 1st quarter. Millennium Management LLC now owns 1,209,545 shares of the industrial products company’s stock worth $61,384,000 after purchasing an additional 195,095 shares during the period. Hedge funds and other institutional investors own 89.46% of the company’s stock.

A number of research firms recently commented on CCK. Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Crown in a research note on Friday, July 20th. UBS Group decreased their price objective on shares of Crown from $59.00 to $50.00 and set a “$44.54” rating for the company in a research note on Thursday, July 19th. Citigroup decreased their price objective on shares of Crown from $60.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, July 20th. JPMorgan Chase & Co. decreased their price objective on shares of Crown from $69.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, July 23rd. Finally, Bank of America lowered shares of Crown from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $59.00 to $51.00 in a research note on Thursday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $60.55.

In related news, CEO Timothy J. Donahue bought 10,000 shares of the firm’s stock in a transaction on Thursday, May 31st. The stock was bought at an average price of $43.25 per share, with a total value of $432,500.00. Following the purchase, the chief executive officer now directly owns 491,378 shares of the company’s stock, valued at approximately $21,252,098.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Shares of NYSE:CCK opened at $44.56 on Monday. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.22 and a beta of 1.39. Crown Holdings, Inc. has a 12-month low of $42.07 and a 12-month high of $62.27. The company has a debt-to-equity ratio of 6.99, a current ratio of 1.84 and a quick ratio of 1.34.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, July 18th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.03). The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.98 billion. Crown had a net margin of 3.14% and a return on equity of 59.87%. The company’s quarterly revenue was up 41.0% on a year-over-year basis. During the same period last year, the business earned $1.12 EPS. equities analysts forecast that Crown Holdings, Inc. will post 5.23 EPS for the current fiscal year.

About Crown

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.

Further Reading: Dividend

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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