Crown Holdings, Inc. (NYSE:CCK) Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 64.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,387 shares of the industrial products company’s stock after purchasing an additional 2,890 shares during the period. Pallas Capital Advisors LLC’s holdings in Crown were worth $659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 117 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Crown by 4.6% in the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 125 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Crown by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company’s stock valued at $2,816,000 after acquiring an additional 138 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of Crown by 3.8% in the 4th quarter. Metis Global Partners LLC now owns 5,349 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 194 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Crown by 2.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 9,372 shares of the industrial products company’s stock valued at $775,000 after acquiring an additional 200 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Performance

Shares of CCK opened at $100.52 on Thursday. The company’s fifty day moving average is $93.27 and its 200-day moving average is $89.28. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $102.00. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

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

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.03%. Crown’s payout ratio is presently 22.37%.

Insider Activity at Crown

In related news, VP Christy L. Kalaus sold 2,130 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president now directly owns 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Gerard H. Gifford sold 7,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the transaction, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CCK shares. Barclays upped their price target 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. Royal Bank of Canada increased their target price on shares of Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Mizuho increased their target price on shares of Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Truist Financial cut their target price on shares of Crown from $107.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company increased their target price on shares of Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus target price of $110.45.

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.