Paloma Partners Management Co Takes $224,000 Position in Crown Holdings, Inc. (CCK)

Paloma Partners Management Co purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 5,403 shares of the industrial products company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCK. Bank of New York Mellon Corp lifted its holdings in shares of Crown by 10.1% during the 4th quarter. Bank of New York Mellon Corp now owns 765,584 shares of the industrial products company’s stock worth $31,824,000 after acquiring an additional 70,020 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Crown by 22.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 6,455 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 1,169 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Crown by 151.7% during the 3rd quarter. Morgan Stanley now owns 338,663 shares of the industrial products company’s stock worth $16,256,000 after acquiring an additional 204,088 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of Crown during the 4th quarter worth $81,000. Finally, Man Group plc lifted its holdings in shares of Crown by 31.6% during the 3rd quarter. Man Group plc now owns 8,642 shares of the industrial products company’s stock worth $415,000 after acquiring an additional 2,075 shares during the last quarter.

A number of research firms have recently issued reports on CCK. Zacks Investment Research downgraded shares of Crown from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Morgan Stanley set a $56.00 price objective on shares of Crown and gave the stock a “hold” rating in a report on Wednesday. Deutsche Bank set a $60.00 price objective on shares of Crown and gave the stock a “buy” rating in a report on Friday, February 8th. KeyCorp reaffirmed a “hold” rating on shares of Crown in a report on Thursday, February 7th. Finally, ValuEngine raised shares of Crown from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $59.56.

Crown stock traded down $0.07 during mid-day trading on Friday, hitting $56.43. The company’s stock had a trading volume of 2,544,528 shares, compared to its average volume of 1,051,695. 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 company has a market capitalization of $7.64 billion, a PE ratio of 10.85, a P/E/G ratio of 1.56 and a beta of 1.66. Crown Holdings, Inc. has a 12 month low of $39.05 and a 12 month high of $57.36.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $1.05 earnings per share for the quarter, hitting the consensus estimate of $1.05. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.76 billion. Crown had a net margin of 3.86% and a return on equity of 57.14%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. As a group, equities analysts expect that Crown Holdings, Inc. will post 5.17 earnings per share for the current fiscal year.

In other news, VP David A. Beaver sold 10,000 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $53.24, for a total transaction of $532,400.00. Following the completion of the transaction, the vice president now directly 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 SEC, which is accessible through this hyperlink. Also, Director John W. Conway sold 129,000 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $53.51, for a total transaction of $6,902,790.00. Following the transaction, the director now directly owns 1,155,464 shares of the company’s stock, valued at $61,828,878.64. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

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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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