Bank of America Corp DE increased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 12.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 790,564 shares of the industrial products company’s stock after acquiring an additional 87,172 shares during the quarter. Bank of America Corp DE’s holdings in Crown were worth $35,385,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its position in Crown by 6.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 530,168 shares of the industrial products company’s stock worth $23,731,000 after purchasing an additional 34,110 shares during the period. Private Management Group Inc. lifted its holdings in shares of Crown by 150.3% in the second quarter. Private Management Group Inc. now owns 676,790 shares of the industrial products company’s stock worth $30,293,000 after acquiring an additional 406,434 shares during the last quarter. Lonestar Capital Management LLC bought a new position in shares of Crown in the second quarter worth about $8,952,000. Gideon Capital Advisors Inc. bought a new position in shares of Crown in the second quarter worth about $280,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Crown by 47.4% in the first quarter. BNP Paribas Arbitrage SA now owns 107,348 shares of the industrial products company’s stock worth $5,448,000 after acquiring an additional 34,510 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.
In other news, Director William S. Urkiel acquired 2,500 shares of the stock in a transaction dated Friday, August 17th. The stock was bought at an average price of $40.25 per share, with a total value of $100,625.00. Following the completion of the purchase, the director now directly owns 46,594 shares of the company’s stock, valued at approximately $1,875,408.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William S. Urkiel acquired 1,500 shares of the stock in a transaction dated Thursday, August 2nd. The stock was purchased at an average cost of $44.30 per share, with a total value of $66,450.00. Following the purchase, the director now directly owns 44,094 shares of the company’s stock, valued at $1,953,364.20. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.
CCK stock opened at $47.76 on Friday. The stock has a market capitalization of $6.38 billion, a PE ratio of 11.85, a P/E/G ratio of 1.29 and a beta of 1.37. The company has a debt-to-equity ratio of 8.12, a current ratio of 1.18 and a quick ratio of 0.69. Crown Holdings, Inc. has a 12 month low of $40.09 and a 12 month high of $62.27.
Crown (NYSE:CCK) last released its quarterly earnings data on Wednesday, July 18th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the company earned $1.12 EPS. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. analysts anticipate that Crown Holdings, Inc. will post 5.21 EPS for the current year.
A number of research analysts have recently commented on CCK shares. Zacks Investment Research raised shares of Crown from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Bank of America increased their target price on shares of Crown from $51.00 to $57.00 and gave the stock a “hold” rating in a report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Crown from $69.00 to $68.00 and set a “buy” rating for the company in a report on Monday, July 23rd. Citigroup dropped their target price on shares of Crown from $60.00 to $56.00 and set a “buy” rating for the company in a report on Friday, July 20th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $60.00 target price on shares of Crown in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $59.67.
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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