Swiss National Bank trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 441,333 shares of the industrial products company’s stock after selling 9,900 shares during the period. Swiss National Bank owned about 0.33% of Crown worth $26,965,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of CCK. Investors Research Corp raised its position in shares of Crown by 12.2% during the 2nd quarter. Investors Research Corp now owns 2,300 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 250 shares during the last quarter. Advisor Group Inc. raised its position in shares of Crown by 7.3% during the 2nd quarter. Advisor Group Inc. now owns 3,759 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 257 shares during the last quarter. Atlas Capital Advisors LLC raised its position in shares of Crown by 16.7% during the 1st quarter. Atlas Capital Advisors LLC now owns 2,100 shares of the industrial products company’s stock worth $115,000 after purchasing an additional 300 shares during the last quarter. Machina Capital S.A.S. raised its position in shares of Crown by 19.5% during the 2nd quarter. Machina Capital S.A.S. now owns 2,141 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 350 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of Crown by 3.0% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 12,412 shares of the industrial products company’s stock worth $677,000 after purchasing an additional 363 shares during the last quarter.
Several research analysts recently issued reports on the company. Citigroup lifted their price objective on Crown from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Co set a $70.00 price objective on Crown and gave the stock a “hold” rating in a research report on Friday, May 17th. Robert W. Baird set a $65.00 price objective on Crown and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine upgraded Crown from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Crown currently has an average rating of “Buy” and an average target price of $64.50.
Crown (NYSE:CCK) last released its earnings results on Wednesday, July 17th. The industrial products company reported $1.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.03). The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Crown had a return on equity of 48.36% and a net margin of 3.91%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 earnings per share. Research analysts forecast that Crown Holdings, Inc. will post 5.09 earnings per share for the current fiscal year.
In other Crown news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $67.92, for a total value of $679,200.00. Following the completion of the sale, the chief operating officer now directly owns 152,292 shares of the company’s stock, valued at approximately $10,343,672.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.
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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