Oxbow Advisors LLC Acquires Shares of 29,518 Crown Holdings, Inc. $CCK

Oxbow Advisors LLC bought a new stake in Crown Holdings, Inc. (NYSE:CCK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 29,518 shares of the industrial products company’s stock, valued at approximately $2,851,000.

Other large investors have also modified their holdings of the company. State Street Corp grew its position in Crown by 1.6% in the 2nd quarter. State Street Corp now owns 4,421,691 shares of the industrial products company’s stock valued at $455,346,000 after buying an additional 71,355 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Crown by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,300,662 shares of the industrial products company’s stock worth $339,902,000 after acquiring an additional 165,600 shares during the period. Invesco Ltd. boosted its holdings in shares of Crown by 58.6% in the second quarter. Invesco Ltd. now owns 2,727,276 shares of the industrial products company’s stock valued at $280,855,000 after acquiring an additional 1,007,980 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Crown by 43.3% during the second quarter. AQR Capital Management LLC now owns 2,533,612 shares of the industrial products company’s stock worth $260,835,000 after acquiring an additional 765,136 shares during the period. Finally, Swedbank AB raised its holdings in Crown by 60.8% during the third quarter. Swedbank AB now owns 2,493,570 shares of the industrial products company’s stock worth $240,854,000 after purchasing an additional 943,045 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Insider Activity at Crown

In other news, CEO Timothy J. Donahue sold 29,024 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $105.00, for a total transaction of $3,047,520.00. Following the completion of the transaction, the chief executive officer directly owned 411,556 shares of the company’s stock, valued at $43,213,380. This trade represents a 6.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Djalma Novaes, Jr. sold 19,754 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $101.02, for a total value of $1,995,549.08. Following the completion of the sale, the chief operating officer directly owned 96,841 shares in the company, valued at approximately $9,782,877.82. The trade was a 16.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 57,254 shares of company stock worth $5,933,134 over the last quarter. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup lowered their price objective on Crown from $135.00 to $124.00 and set a “buy” rating on the stock in a report on Monday, September 29th. Wall Street Zen upgraded Crown from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. UBS Group increased their price objective on Crown from $125.00 to $126.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Royal Bank Of Canada raised their target price on Crown from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $115.00 price target (up from $110.00) on shares of Crown in a research note on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $119.62.

Crown Price Performance

NYSE CCK traded up $1.86 during trading hours on Friday, reaching $104.17. The company’s stock had a trading volume of 940,453 shares, compared to its average volume of 890,901. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.76 and a current ratio of 1.16. The company’s 50-day moving average is $100.65 and its two-hundred day moving average is $99.25. Crown Holdings, Inc. has a fifty-two week low of $75.98 and a fifty-two week high of $109.48. The stock has a market cap of $12.02 billion, a PE ratio of 12.89, a PEG ratio of 1.18 and a beta of 0.75.

Crown Profile

Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.

Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.