Tensile Capital Management LLC Has $46.78 Million Stake in Crown Holdings, Inc. (CCK)

Tensile Capital Management LLC raised its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 68.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,125,282 shares of the industrial products company’s stock after purchasing an additional 456,977 shares during the quarter. Crown accounts for 7.0% of Tensile Capital Management LLC’s portfolio, making the stock its 6th largest position. Tensile Capital Management LLC owned 0.83% of Crown worth $46,778,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CCK. First Mercantile Trust Co. bought a new stake in Crown during the 4th quarter valued at $30,000. IFP Advisors Inc increased its position in shares of Crown by 358.7% during the 4th quarter. IFP Advisors Inc now owns 899 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 703 shares during the period. Private Capital Group LLC increased its position in shares of Crown by 43.4% during the 4th quarter. Private Capital Group LLC now owns 991 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 300 shares during the period. First Hawaiian Bank acquired a new position in shares of Crown during the 4th quarter valued at $42,000. Finally, Cerebellum GP LLC acquired a new position in shares of Crown during the 4th quarter valued at $81,000.

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

Several equities analysts have recently issued reports on CCK shares. Zacks Investment Research cut Crown from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. ValuEngine upgraded Crown from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Morgan Stanley started coverage on Crown in a research report on Wednesday, January 16th. They set an “equal weight” rating and a $49.00 price target on the stock. Deutsche Bank set a $60.00 target price on Crown and gave the stock a “buy” rating in a report on Friday, February 8th. Finally, TheStreet upgraded Crown from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Crown currently has an average rating of “Buy” and an average price target of $58.22.

Shares of CCK stock remained flat at $$56.73 on Monday. The stock had a trading volume of 852,892 shares, compared to its average volume of 1,437,859. Crown Holdings, Inc. has a twelve month low of $39.05 and a twelve month high of $57.32. The company has a quick ratio of 0.61, a current ratio of 1.04 and a debt-to-equity ratio of 6.62. The stock has a market capitalization of $7.68 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 1.53 and a beta of 1.66.

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

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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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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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