Boston Private Wealth LLC Acquires 241,099 Shares of Crown Holdings, Inc. (CCK)

Boston Private Wealth LLC increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 5,387.7% in the 3rd quarter, Holdings Channel reports. The firm owned 245,574 shares of the industrial products company’s stock after acquiring an additional 241,099 shares during the quarter. Boston Private Wealth LLC’s holdings in Crown were worth $11,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Columbia Asset Management purchased a new stake in shares of Crown during the third quarter worth about $110,000. Tower Research Capital LLC TRC purchased a new stake in shares of Crown during the second quarter worth about $187,000. Pennsylvania Trust Co purchased a new stake in shares of Crown during the third quarter worth about $202,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Crown during the second quarter worth about $218,000. Finally, Levin Capital Strategies L.P. purchased a new stake in shares of Crown during the third quarter worth about $240,000.

CCK has been the subject of a number of research reports. TheStreet raised shares of Crown from a “c+” rating to a “b-” rating in a research note on Wednesday, October 10th. ValuEngine raised shares of Crown from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 3rd. Zacks Investment Research raised shares of Crown from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Credit Suisse Group raised shares of Crown from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $53.00 to $57.00 in a research note on Monday, November 12th. Finally, Bank of America raised shares of Crown from a “neutral” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Friday, November 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $60.56.

CCK opened at $47.67 on Monday. The stock has a market cap of $6.44 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 1.31 and a beta of 1.41. Crown Holdings, Inc. has a twelve month low of $40.09 and a twelve month high of $62.27. The company has a current ratio of 1.14, a quick ratio of 0.68 and a debt-to-equity ratio of 6.82.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, October 17th. The industrial products company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.17 billion. Crown had a net margin of 2.81% and a return on equity of 59.62%. Crown’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 earnings per share. Equities analysts predict that Crown Holdings, Inc. will post 5.2 EPS for the current year.

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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.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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