Hennessy Advisors Inc. Invests $43.42 Million in Crown Holdings, Inc. $CCK

by · The Markets Daily

Hennessy Advisors Inc. acquired a new stake in Crown Holdings, Inc. (NYSE:CCKFree Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 449,500 shares of the industrial products company’s stock, valued at approximately $43,417,000. Crown comprises approximately 1.5% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 12th largest holding.

Other large investors have also added to or reduced their stakes in the company. Vinva Investment Management Ltd increased its position in shares of Crown by 152.9% during the 2nd quarter. Vinva Investment Management Ltd now owns 194,348 shares of the industrial products company’s stock worth $20,393,000 after purchasing an additional 117,494 shares during the last quarter. Greenland Capital Management LP acquired a new position in Crown during the second quarter worth $589,000. Inspire Investing LLC bought a new stake in Crown during the first quarter worth $762,000. OMERS ADMINISTRATION Corp raised its position in Crown by 426.8% during the second quarter. OMERS ADMINISTRATION Corp now owns 22,711 shares of the industrial products company’s stock worth $2,339,000 after acquiring an additional 18,400 shares in the last quarter. Finally, Andra AP fonden lifted its stake in Crown by 52.6% in the second quarter. Andra AP fonden now owns 20,900 shares of the industrial products company’s stock valued at $2,152,000 after acquiring an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Trading Down 0.6%

Shares of CCK stock opened at $103.11 on Thursday. Crown Holdings, Inc. has a 12-month low of $75.98 and a 12-month high of $109.48. The company has a market capitalization of $11.89 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.41 and a beta of 0.76. The firm has a 50 day moving average price of $98.69 and a two-hundred day moving average price of $99.29. The company has a quick ratio of 0.76, a current ratio of 1.16 and a debt-to-equity ratio of 1.65.

Crown (NYSE:CCKGet Free Report) last announced its earnings results on Monday, October 20th. The industrial products company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.26. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.13 billion. Crown had a return on equity of 26.86% and a net margin of 7.79%.The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.99 earnings per share. Crown has set its Q4 2025 guidance at 1.650-1.75 EPS and its FY 2025 guidance at 7.700-7.80 EPS. As a group, analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Crown’s dividend payout ratio (DPR) is currently 12.87%.

Insiders Place Their Bets

In other news, CEO Timothy J. Donahue sold 8,476 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $105.01, for a total value of $890,064.76. Following the completion of the sale, the chief executive officer owned 440,580 shares of the company’s stock, valued at approximately $46,265,305.80. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Djalma Novaes, Jr. sold 19,754 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $101.02, for a total transaction of $1,995,549.08. Following the completion of the transaction, the chief operating officer owned 96,841 shares in the company, valued at $9,782,877.82. This trade represents a 16.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CCK shares. Raymond James Financial restated an “outperform” rating and set a $115.00 price objective (up from $110.00) on shares of Crown in a research note on Wednesday, October 22nd. Royal Bank Of Canada lifted their price target on Crown from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded Crown from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. UBS Group reiterated a “buy” rating and set a $117.00 target price on shares of Crown in a research note on Tuesday, October 21st. Finally, Truist Financial reissued a “buy” rating and set a $126.00 target price (up from $118.00) on shares of Crown in a report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.08.

View Our Latest Stock Analysis on Crown

About Crown

(Free Report)

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.

Further Reading

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