DNB Asset Management AS Increases Holdings in Crown Holdings, Inc. (CCK)

DNB Asset Management AS lifted its holdings in Crown Holdings, Inc. (NYSE:CCK) by 21.9% during the first quarter, HoldingsChannel reports. The firm owned 1,091,424 shares of the industrial products company’s stock after purchasing an additional 195,745 shares during the period. DNB Asset Management AS’s holdings in Crown were worth $59,559,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. First Mercantile Trust Co. bought a new stake in shares of Crown in the fourth quarter worth $30,000. IFP Advisors Inc increased its holdings in Crown by 358.7% during the fourth quarter. IFP Advisors Inc now owns 899 shares of the industrial products company’s stock worth $37,000 after buying an additional 703 shares during the last quarter. Private Capital Group LLC increased its holdings in Crown by 43.4% during the fourth quarter. Private Capital Group LLC now owns 991 shares of the industrial products company’s stock worth $41,000 after buying an additional 300 shares during the last quarter. First Hawaiian Bank acquired a new position in Crown during the fourth quarter worth $42,000. Finally, Cerebellum GP LLC acquired a new position in Crown during the fourth quarter worth $81,000.

Shares of CCK opened at $56.27 on Thursday. The firm has a market cap of $7.56 billion, a P/E ratio of 10.82, a PEG ratio of 1.50 and a beta of 1.66. Crown Holdings, Inc. has a 1-year low of $39.05 and a 1-year high of $56.58. The company has a debt-to-equity ratio of 6.62, a quick ratio of 0.61 and a current ratio of 1.04.

Crown (NYSE:CCK) last released its quarterly earnings data on Wednesday, February 6th. The industrial products company reported $1.00 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.00. Crown had a net margin of 3.94% and a return on equity of 57.46%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 26.1% on a year-over-year basis. On average, analysts predict that Crown Holdings, Inc. will post 5.31 earnings per share for the current year.

In other Crown news, VP David A. Beaver sold 10,000 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $53.24, for a total value of $532,400.00. Following the transaction, the vice president now directly owns 21,417 shares in the company, valued at $1,140,241.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John W. Conway sold 129,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $53.51, for a total transaction of $6,902,790.00. Following the completion of the transaction, the director now owns 1,155,464 shares in the company, valued at $61,828,878.64. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

A number of equities analysts recently weighed in on CCK shares. Zacks Investment Research downgraded shares of Crown from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Deutsche Bank upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Thursday, January 3rd. Citigroup lowered their target price on shares of Crown from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, January 7th. Morgan Stanley started coverage on shares of Crown in a report on Wednesday, January 16th. They set an “equal weight” rating and a $49.00 target price on the stock. Finally, ValuEngine upgraded shares of Crown from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Crown has an average rating of “Buy” and a consensus target price of $58.00.

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Crown Profile

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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