Seven Six Capital Management LLC Purchases New Shares in Crown Holdings, Inc. (NYSE:CCK)

Seven Six Capital Management LLC purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, HoldingsChannel reports. The firm purchased 71,862 shares of the industrial products company’s stock, valued at approximately $5,942,000. Crown makes up 5.2% of Seven Six Capital Management LLC’s portfolio, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCK. Farther Finance Advisors LLC grew its position in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after buying an additional 256 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after buying an additional 117 shares during the period. Colonial Trust Co SC grew its position in Crown by 88.0% during the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock valued at $62,000 after buying an additional 352 shares during the period. Venturi Wealth Management LLC grew its position in Crown by 48.6% during the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after buying an additional 269 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Crown by 325.1% during the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock valued at $70,000 after buying an additional 647 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Performance

CCK opened at $99.42 on Friday. The firm has a market capitalization of $11.57 billion, a PE ratio of 27.93, a PEG ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $100.17. The firm’s 50-day moving average price is $89.75 and its 200 day moving average price is $88.52. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.45. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. Crown’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 earnings per share. As a group, sell-side analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.05%. Crown’s payout ratio is presently 22.37%.

Insider Buying and Selling

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the transaction, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CCK has been the topic of several research analyst reports. UBS Group lifted their target price on shares of Crown from $109.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company lifted their target price on shares of Crown from $89.00 to $101.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Mizuho lifted their target price on shares of Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Royal Bank of Canada lifted their target price on shares of Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. Finally, Barclays lifted their target price on shares of Crown from $109.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.45.

Crown Company Profile

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.