Strs Ohio decreased its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 34.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,530 shares of the industrial products company’s stock after selling 9,881 shares during the quarter. Strs Ohio’s holdings in Crown were worth $1,206,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Marshall Wace LLP bought a new stake in shares of Crown in the 1st quarter valued at about $321,000. First Trust Advisors LP raised its holdings in shares of Crown by 2.5% in the 1st quarter. First Trust Advisors LP now owns 75,709 shares of the industrial products company’s stock valued at $4,131,000 after purchasing an additional 1,844 shares in the last quarter. Public Sector Pension Investment Board bought a new stake in shares of Crown in the 4th quarter valued at about $530,000. Advisors Asset Management Inc. raised its holdings in shares of Crown by 48.9% in the 4th quarter. Advisors Asset Management Inc. now owns 1,467 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 482 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Crown by 6.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,020 shares of the industrial products company’s stock valued at $1,083,000 after purchasing an additional 913 shares in the last quarter. Institutional investors own 89.43% of the company’s stock.
Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Crown from $87.00 to $83.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Deutsche Bank lifted their price objective on shares of Crown from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. ValuEngine downgraded shares of Crown from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. KeyCorp reaffirmed a “hold” rating on shares of Crown in a research report on Tuesday, July 21st. Finally, Zacks Investment Research downgraded shares of Crown from a “hold” rating to a “sell” rating and set a $70.00 price objective on the stock. in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $80.75.
Crown (NYSE:CCK) last released its earnings results on Monday, July 20th. The industrial products company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.76 billion. Crown had a net margin of 4.28% and a return on equity of 32.53%. Crown’s revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. As a group, analysts expect that Crown Holdings, Inc. will post 5.19 EPS for the current fiscal year.
Crown Company Profile
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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