Brandywine Global Investment Management LLC raised its stake in Crown Holdings, Inc. (NYSE:CCK) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,574,825 shares of the industrial products company’s stock after purchasing an additional 138,241 shares during the period. Brandywine Global Investment Management LLC owned 1.16% of Crown worth $65,466,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Crown by 66.3% in the third quarter. FMR LLC now owns 5,846,001 shares of the industrial products company’s stock valued at $280,608,000 after acquiring an additional 2,330,692 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Crown by 101.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,506,183 shares of the industrial products company’s stock valued at $216,297,000 after acquiring an additional 2,271,146 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Crown by 47.8% in the third quarter. TIAA CREF Investment Management LLC now owns 4,900,973 shares of the industrial products company’s stock valued at $235,247,000 after acquiring an additional 1,585,959 shares in the last quarter. DNB Asset Management AS grew its stake in shares of Crown by 4,966.1% in the fourth quarter. DNB Asset Management AS now owns 895,679 shares of the industrial products company’s stock valued at $37,233,000 after acquiring an additional 877,999 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Crown by 16.9% in the third quarter. Janus Henderson Group PLC now owns 5,136,465 shares of the industrial products company’s stock valued at $246,550,000 after acquiring an additional 743,969 shares in the last quarter.
Several research firms recently commented on CCK. Zacks Investment Research downgraded shares of Crown from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Citigroup decreased their price target on shares of Crown from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, January 7th. Deutsche Bank upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Thursday, January 3rd. KeyCorp restated a “hold” rating on shares of Crown in a research note on Thursday, February 7th. Finally, Royal Bank of Canada upped their price target on shares of Crown from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $59.27.
Shares of Crown stock opened at $54.38 on Friday. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.47 and a beta of 1.66. The company has a debt-to-equity ratio of 6.62, a quick ratio of 0.61 and a current ratio of 1.04. Crown Holdings, Inc. has a 12-month low of $39.05 and a 12-month high of $55.93.
Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 6th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.00. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.81 billion. Crown had a net margin of 3.94% and a return on equity of 57.46%. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. On average, analysts predict that Crown Holdings, Inc. will post 5.31 EPS for the current fiscal year.
In other Crown news, VP David A. Beaver sold 10,000 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $53.24, for a total transaction of $532,400.00. Following the sale, the vice president now directly owns 21,417 shares in the company, valued at $1,140,241.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Conway sold 129,000 shares of the stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $53.51, for a total transaction of $6,902,790.00. Following the sale, the director now owns 1,155,464 shares in the company, valued at $61,828,878.64. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.
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Crown Company Profile
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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