City Holding Co. increased its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 118.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,423 shares of the industrial products company’s stock after purchasing an additional 4,023 shares during the quarter. City Holding Co.’s holdings in Crown were worth $405,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in CCK. Massey Quick Simon & CO. LLC purchased a new stake in shares of Crown in the first quarter valued at approximately $26,000. First Mercantile Trust Co. purchased a new stake in shares of Crown in the fourth quarter valued at approximately $30,000. IFP Advisors Inc increased its position in shares of 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 in the last quarter. Private Capital Group LLC increased its position in shares of Crown by 43.4% in the fourth quarter. Private Capital Group LLC now owns 991 shares of the industrial products company’s stock valued at $41,000 after buying an additional 300 shares in the last quarter. Finally, First Hawaiian Bank purchased a new stake in shares of Crown in the fourth quarter valued at approximately $42,000.
In related news, Director John W. Conway sold 129,000 shares of the stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $53.51, for a total transaction of $6,902,790.00. Following the transaction, the director now owns 1,155,464 shares of the company’s stock, valued at approximately $61,828,878.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP David A. Beaver sold 10,000 shares of the 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 transaction, the vice president now directly owns 21,417 shares in the company, valued at approximately $1,140,241.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,000 shares of company stock worth $14,924,930. Corporate insiders own 1.90% of the company’s stock.
Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported $1.05 EPS 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 business 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 company posted $0.94 EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis. Equities analysts anticipate that Crown Holdings, Inc. will post 5.29 EPS for the current year.
A number of analysts have recently commented on CCK shares. Wells Fargo & Co set a $65.00 price objective on Crown and gave the company a “buy” rating in a research report on Wednesday, April 17th. Zacks Investment Research upgraded Crown from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Royal Bank of Canada boosted their price target on Crown from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 19th. TheStreet upgraded Crown from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. Finally, ValuEngine upgraded Crown from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $60.11.
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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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