Carmel Capital Partners LLC Has $1.22 Million Stake in Crown Holdings, Inc. $CCK

Carmel Capital Partners LLC cut its position in Crown Holdings, Inc. (NYSE:CCK) by 40.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,599 shares of the industrial products company’s stock after selling 8,721 shares during the quarter. Carmel Capital Partners LLC’s holdings in Crown were worth $1,217,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. increased its stake in Crown by 103.1% in the third quarter. Harbor Capital Advisors Inc. now owns 264 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Crown by 45.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 111 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of Crown in the 3rd quarter valued at $34,000. Root Financial Partners LLC bought a new position in shares of Crown in the 3rd quarter valued at $37,000. Finally, Mather Group LLC. acquired a new position in shares of Crown during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Down 0.4%

Shares of NYSE CCK opened at $102.43 on Friday. The company has a 50 day simple moving average of $100.50 and a 200 day simple moving average of $99.27. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.16 and a quick ratio of 0.76. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48. The firm has a market cap of $11.82 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, October 20th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.26. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Crown had a net margin of 7.79% and a return on equity of 26.86%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.99 EPS. On average, research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Insiders Place Their Bets

In other news, COO Djalma Novaes, Jr. sold 19,754 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $101.02, for a total value of $1,995,549.08. Following the completion of the sale, the chief operating officer owned 96,841 shares of the company’s stock, valued at approximately $9,782,877.82. This represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Donahue sold 29,024 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $105.00, for a total value of $3,047,520.00. Following the transaction, the chief executive officer owned 411,556 shares of the company’s stock, valued at $43,213,380. This trade represents a 6.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 57,254 shares of company stock valued at $5,933,134 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group lifted their target price on Crown from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Royal Bank Of Canada raised their price target on shares of Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Citigroup lowered their price objective on shares of Crown from $135.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Mizuho raised their target price on shares of Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Crown in a report on Monday, December 29th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.62.

Crown Company Profile

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.