John W. Conway Sells 129,000 Shares of Crown Holdings, Inc. (NYSE:CCK) Stock

Crown Holdings, Inc. (NYSE:CCK) Director John W. Conway sold 129,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $58.06, for a total value of $7,489,740.00. Following the completion of the transaction, the director now owns 1,156,677 shares of the company’s stock, valued at $67,156,666.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

NYSE:CCK traded down $0.75 during midday trading on Friday, hitting $60.45. 948,754 shares of the company traded hands, compared to its average volume of 1,356,144. Crown Holdings, Inc. has a 12-month low of $39.05 and a 12-month high of $61.40. The firm has a market capitalization of $8.19 billion, a PE ratio of 11.63, a PEG ratio of 1.63 and a beta of 1.66. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.65 and a current ratio of 1.20.

Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $1.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.05. Crown had a return on equity of 54.33% and a net margin of 3.86%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. Crown’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities analysts forecast that Crown Holdings, Inc. will post 5.29 EPS for the current year.

A number of hedge funds have recently modified their holdings of CCK. Massey Quick Simon & CO. LLC purchased a new stake in Crown in the first quarter valued at about $26,000. Cresset Asset Management LLC purchased a new stake in Crown in the first quarter valued at about $31,000. First Personal Financial Services raised its stake in Crown by 178.7% in the first quarter. First Personal Financial Services now owns 577 shares of the industrial products company’s stock valued at $31,000 after buying an additional 370 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in Crown in the fourth quarter valued at about $30,000. Finally, IFP Advisors Inc raised its stake in Crown by 358.7% in the fourth quarter. IFP Advisors Inc now owns 899 shares of the industrial products company’s stock valued at $37,000 after buying an additional 703 shares during the last quarter.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded Crown from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Wells Fargo & Co set a $65.00 price objective on Crown and gave the stock a “buy” rating in a report on Wednesday, April 17th. KeyCorp reaffirmed a “hold” rating on shares of Crown in a report on Thursday, February 7th. Deutsche Bank upped their price objective on Crown from $60.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada upped their price objective on Crown from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $60.67.

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About Crown

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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Insider Buying and Selling by Quarter for Crown (NYSE:CCK)

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