ING Groep NV Purchases Shares of 19,900 Crown Holdings, Inc. (NYSE:CCK)

ING Groep NV purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,900 shares of the industrial products company’s stock, valued at approximately $1,908,000.

Several other institutional investors have also recently made changes to their positions in CCK. Nisa Investment Advisors LLC increased its holdings in Crown by 6.1% during the second quarter. Nisa Investment Advisors LLC now owns 2,753 shares of the industrial products company’s stock valued at $205,000 after buying an additional 158 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 163 shares in the last quarter. Fifth Third Bancorp raised its holdings in Crown by 36.1% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 176 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Crown by 2.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after purchasing an additional 183 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Crown by 5.4% in the second quarter. CIBC Asset Management Inc now owns 4,079 shares of the industrial products company’s stock worth $303,000 after buying an additional 209 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Buying and Selling at Crown

In other news, Director James H. Miller sold 1,006 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $95.60, for a total transaction of $96,173.60. Following the completion of the sale, the director now owns 12,424 shares in the company, valued at approximately $1,187,734.40. This represents a 7.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $90.58, for a total value of $679,350.00. Following the transaction, the chief executive officer now owns 578,678 shares in the company, valued at approximately $52,416,653.24. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,506 shares of company stock valued at $3,157,399. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CCK. Bank of America boosted their price objective on Crown from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Robert W. Baird raised their price objective on shares of Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Morgan Stanley upped their target price on shares of Crown from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Loop Capital raised their price target on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Mizuho set a $110.00 price objective on Crown in a research note on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.62.

Crown Trading Down 0.2 %

NYSE:CCK opened at $89.86 on Friday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.84 and a current ratio of 1.21. The firm has a 50-day simple moving average of $93.58 and a 200-day simple moving average of $86.55. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $98.46. The firm has a market cap of $10.75 billion, a P/E ratio of 110.94, a P/E/G ratio of 2.05 and a beta of 0.85.

Crown (NYSE:CCK) last posted its earnings results on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.07 billion. Equities analysts anticipate that Crown Holdings, Inc. will post 6.34 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. Crown’s dividend payout ratio is presently 123.46%.

Crown Company Profile

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.