Chesapeake Capital Corp IL Invests $1.11 Million in Crown Holdings, Inc. (NYSE:CCK)

Chesapeake Capital Corp IL purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,717 shares of the industrial products company’s stock, valued at approximately $1,110,000. Crown comprises approximately 1.0% of Chesapeake Capital Corp IL’s holdings, making the stock its 18th biggest holding.

A number of other large investors also recently modified their holdings of CCK. GAMMA Investing LLC raised its stake in shares of Crown by 110.9% in the third quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 163 shares in the last quarter. Covestor Ltd raised its stake in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Crown in the third quarter valued at $48,000. EntryPoint Capital LLC acquired a new position in shares of Crown in the first quarter valued at $41,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Crown in the third quarter valued at $55,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Crown

In other Crown news, Director James H. Miller sold 1,006 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $95.60, for a total value of $96,173.60. Following the transaction, the director now owns 12,424 shares of the company’s stock, valued at approximately $1,187,734.40. This represents a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Donahue sold 7,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the completion of the transaction, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,506 shares of company stock worth $3,157,399 over the last 90 days. Insiders own 0.90% of the company’s stock.

Crown Price Performance

Crown stock opened at $89.86 on Friday. The business’s 50-day simple moving average is $93.58 and its 200 day simple moving average is $86.55. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 110.94, a P/E/G ratio of 1.99 and a beta of 0.85. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $98.46. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

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

Crown Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Loop Capital increased their price objective on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Robert W. Baird increased their price objective on Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Royal Bank of Canada increased their price objective on Crown from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Finally, Barclays increased their price objective on Crown from $100.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $106.62.

Crown 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.