Assenagon Asset Management S.A. Has $642,000 Position in Crown Holdings, Inc. (NYSE:CCK)

Assenagon Asset Management S.A. lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 57.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,189 shares of the industrial products company’s stock after selling 9,571 shares during the period. Assenagon Asset Management S.A.’s holdings in Crown were worth $642,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after buying an additional 256 shares during the last quarter. Colonial Trust Co SC increased its holdings in Crown by 88.0% in the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company’s stock worth $62,000 after buying an additional 352 shares during the last quarter. Parallel Advisors LLC increased its holdings in Crown by 33.8% in the first quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company’s stock worth $72,000 after buying an additional 205 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Crown by 48.6% in the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after buying an additional 269 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Crown by 325.1% in the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock worth $70,000 after buying an additional 647 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Up 1.6%

CCK opened at $102.61 on Thursday. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $103.61. The company has a current ratio of 0.87, a quick ratio of 0.56 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 1.74 and a beta of 0.76. The business has a 50 day moving average of $95.31 and a 200-day moving average of $89.58.

Crown (NYSE:CCK) last issued its earnings results on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.22 by $0.45. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Crown had a return on equity of 26.98% and a net margin of 4.62%. Crown’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.02 earnings per share. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 annualized dividend and a yield of 1.01%. Crown’s dividend payout ratio is currently 22.37%.

Analyst Ratings Changes

CCK has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. UBS Group upped their target price on Crown from $109.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Truist Financial decreased their target price on Crown from $107.00 to $97.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Mizuho upped their target price on Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 29th. Finally, Barclays upped their target price on Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.45.

Insiders Place Their Bets

In related news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer now directly owns 135,014 shares in the company, valued at $13,096,358. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of Crown stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the sale, the vice president now owns 4,500 shares of the company’s stock, valued at approximately $447,345. The trade was a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

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.