Crown Holdings, Inc. $CCK Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lowered its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 58.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,821 shares of the industrial products company’s stock after selling 76,833 shares during the quarter. Great Lakes Advisors LLC’s holdings in Crown were worth $5,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Crown during the 2nd quarter worth about $184,046,000. Invesco Ltd. grew its position in shares of Crown by 58.6% during the second quarter. Invesco Ltd. now owns 2,727,276 shares of the industrial products company’s stock worth $280,855,000 after buying an additional 1,007,980 shares in the last quarter. Swedbank AB increased its stake in shares of Crown by 60.8% during the third quarter. Swedbank AB now owns 2,493,570 shares of the industrial products company’s stock worth $240,854,000 after buying an additional 943,045 shares during the period. AQR Capital Management LLC raised its holdings in Crown by 43.3% in the second quarter. AQR Capital Management LLC now owns 2,533,612 shares of the industrial products company’s stock valued at $260,835,000 after acquiring an additional 765,136 shares in the last quarter. Finally, Albar Capital Partners LLP purchased a new position in Crown in the second quarter worth approximately $54,736,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Key Crown News

Here are the key news stories impacting Crown this week:

• Neutral Sentiment: Cascades agreed to sell a corrugated packaging plant in Richmond, B.C., to Crown Paper Group for CA$65.5M — a regional consolidation in the packaging sector that may slightly alter competitive dynamics but does not directly involve Crown Holdings. Cascades sells Richmond, B.C. packaging plant to Crown Paper Group for $65.5 million
• Negative Sentiment: An insider sale: CEO Timothy J. Donahue sold 7,500 CCK shares at an average price of $105 (≈$787,500), reducing his holding by ~1.53%. Insider selling can be interpreted by some investors as a negative signal on near-term insider conviction, though the sale is small relative to his total holdings. SEC Filing: Insider Sale

Insider Buying and Selling

In other news, CEO Timothy J. Donahue sold 29,024 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $105.00, for a total transaction of $3,047,520.00. Following the transaction, the chief executive officer directly owned 411,556 shares in the company, valued at approximately $43,213,380. This trade represents a 6.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Djalma Novaes, Jr. sold 19,754 shares of Crown stock in a transaction on 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 directly owned 96,841 shares in the company, valued at $9,782,877.82. The trade was a 16.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,754 shares of company stock worth $6,720,634 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

Crown Stock Performance

NYSE CCK opened at $104.59 on Friday. The company has a fifty day moving average of $101.50 and a two-hundred day moving average of $99.13. The company has a market capitalization of $12.06 billion, a PE ratio of 12.94, a P/E/G ratio of 1.20 and a beta of 0.75. Crown Holdings, Inc. has a 1 year low of $75.98 and a 1 year high of $109.48. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.16 and a quick ratio of 0.76.

Analyst Ratings Changes

CCK has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on shares of Crown from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Mizuho increased their target price on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Raymond James Financial restated an “outperform” rating and issued a $115.00 price target (up from $110.00) on shares of Crown in a research note on Wednesday, October 22nd. Wells Fargo & Company upped their price objective on Crown from $99.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Finally, Royal Bank Of Canada increased their price objective on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and an average price target of $119.62.

About Crown

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.