Crown Holdings, Inc. (CCK) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,884 shares of the industrial products company’s stock after selling 3,067 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Crown were worth $2,278,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Crown by 478.0% during the second quarter. FMR LLC now owns 3,515,309 shares of the industrial products company’s stock worth $157,345,000 after buying an additional 2,907,112 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Crown by 75,664.0% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,235,037 shares of the industrial products company’s stock worth $100,040,000 after buying an additional 2,232,087 shares in the last quarter. Cooke & Bieler LP lifted its holdings in shares of Crown by 33.2% during the second quarter. Cooke & Bieler LP now owns 2,985,433 shares of the industrial products company’s stock worth $133,628,000 after buying an additional 744,059 shares in the last quarter. Strs Ohio lifted its holdings in shares of Crown by 68.8% during the second quarter. Strs Ohio now owns 1,116,597 shares of the industrial products company’s stock worth $49,978,000 after buying an additional 455,000 shares in the last quarter. Finally, BlueMountain Capital Management LLC lifted its holdings in shares of Crown by 7,611.5% during the second quarter. BlueMountain Capital Management LLC now owns 456,752 shares of the industrial products company’s stock worth $20,444,000 after buying an additional 450,829 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on Crown from $60.00 to $56.00 and set a “buy” rating for the company in a report on Friday, July 20th. UBS Group dropped their target price on Crown from $59.00 to $50.00 and set a “$44.54” rating for the company in a report on Thursday, July 19th. Royal Bank of Canada reissued a “buy” rating and set a $60.00 target price on shares of Crown in a report on Friday, July 20th. Zacks Investment Research raised Crown from a “sell” rating to a “hold” rating in a report on Friday. Finally, Bank of America lifted their target price on Crown from $51.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Crown currently has a consensus rating of “Hold” and an average target price of $59.67.

In related news, Director William S. Urkiel purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was acquired at an average price of $40.25 per share, with a total value of $100,625.00. Following the completion of the purchase, the director now directly owns 46,594 shares in the company, valued at $1,875,408.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William S. Urkiel purchased 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was bought at an average cost of $44.30 per share, with a total value of $66,450.00. Following the purchase, the director now owns 44,094 shares of the company’s stock, valued at $1,953,364.20. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

CCK stock opened at $49.91 on Tuesday. The stock has a market capitalization of $6.49 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.32 and a beta of 1.37. Crown Holdings, Inc. has a 52 week low of $40.09 and a 52 week high of $62.27. The company has a debt-to-equity ratio of 8.12, a current ratio of 1.18 and a quick ratio of 0.69.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, July 18th. The industrial products company reported $1.55 EPS for the quarter, missing the Zacks’ consensus estimate of $1.58 by ($0.03). The company had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.98 billion. Crown had a net margin of 3.14% and a return on equity of 58.64%. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. On average, sell-side analysts predict that Crown Holdings, Inc. will post 5.21 earnings per share for the current fiscal year.

Crown Profile

Crown Holdings, Inc designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific. Its primary products include steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage products; and metal vacuum closures, steel crowns and caps.

See Also: Dow Jones Industrial Average (DJIA)

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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