2,263 Shares in Crown Holdings, Inc. $CCK Acquired by Longboard Asset Management LP

by · The Cerbat Gem

Longboard Asset Management LP purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,263 shares of the industrial products company’s stock, valued at approximately $233,000.

Several other institutional investors also recently bought and sold shares of CCK. ProShare Advisors LLC grew its stake in Crown by 6.4% during the fourth quarter. ProShare Advisors LLC now owns 5,529 shares of the industrial products company’s stock worth $457,000 after buying an additional 333 shares during the period. Snowden Capital Advisors LLC grew its stake in Crown by 10.8% during the fourth quarter. Snowden Capital Advisors LLC now owns 2,499 shares of the industrial products company’s stock worth $207,000 after buying an additional 244 shares during the period. Toronto Dominion Bank grew its stake in Crown by 5.7% during the fourth quarter. Toronto Dominion Bank now owns 16,238 shares of the industrial products company’s stock worth $1,343,000 after buying an additional 875 shares during the period. State of Wyoming grew its stake in Crown by 160.1% during the fourth quarter. State of Wyoming now owns 1,995 shares of the industrial products company’s stock worth $165,000 after buying an additional 1,228 shares during the period. Finally, Tidal Investments LLC grew its stake in Crown by 157.7% during the fourth quarter. Tidal Investments LLC now owns 56,696 shares of the industrial products company’s stock worth $4,688,000 after buying an additional 34,699 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Timothy J. Donahue sold 37,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $100.56, for a total transaction of $3,720,720.00. Following the completion of the transaction, the chief executive officer owned 462,056 shares in the company, valued at approximately $46,464,351.36. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Gerard H. Gifford sold 8,222 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $102.93, for a total transaction of $846,290.46. Following the transaction, the chief accounting officer owned 122,585 shares of the company’s stock, valued at approximately $12,617,674.05. This trade represents a 6.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,222 shares of company stock valued at $5,873,770. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

CCK has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Crown from $101.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Loop Capital upped their target price on shares of Crown from $129.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of Crown from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. UBS Group upped their target price on shares of Crown from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Finally, Baird R W downgraded shares of Crown from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $120.67.

Check Out Our Latest Report on Crown

Crown Stock Performance

Shares of CCK opened at $95.07 on Thursday. The firm has a 50-day moving average price of $100.30 and a 200 day moving average price of $96.48. The firm has a market capitalization of $11.06 billion, a PE ratio of 19.97, a P/E/G ratio of 1.46 and a beta of 0.73. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 1.67. Crown Holdings, Inc. has a 52-week low of $75.98 and a 52-week high of $109.48.

Crown (NYSE:CCK – Get Free Report) last announced its earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.29. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. Crown’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 EPS. Crown has set its FY 2025 guidance at 7.100-7.500 EPS. Q3 2025 guidance at 1.950-2.050 EPS. On average, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Crown’s dividend payout ratio (DPR) is 21.85%.

Crown Profile

(Free Report)

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.

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