Adage Capital Partners Gp L.l.c. Lowers stake in Crown Holdings (CCK)

Crown Holdings (CCK) : Adage Capital Partners Gp L.l.c. reduced its stake in Crown Holdings by 4.38% during the most recent quarter end. The investment management company now holds a total of 3,276,675 shares of Crown Holdings which is valued at $176,973,217 after selling 150,000 shares in Crown Holdings , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Crown Holdings makes up approximately 0.46% of Adage Capital Partners Gp L.l.c.’s portfolio.

Other Hedge Funds, Including , Invictus Rg Pte. Ltd. boosted its stake in CCK in the latest quarter, The investment management firm added 905 additional shares and now holds a total of 4,020 shares of Crown Holdings which is valued at $217,120. Crown Holdings makes up approx 0.19% of Invictus Rg Pte. Ltd.’s portfolio.Dynamic Technology Lab Private Ltd reduced its stake in CCK by selling 4,703 shares or 35.41% in the most recent quarter. The Hedge Fund company now holds 8,580 shares of CCK which is valued at $463,406. Crown Holdings makes up approx 0.12% of Dynamic Technology Lab Private Ltd’s portfolio. Clarivest Asset Management added CCK to its portfolio by purchasing 25 company shares during the most recent quarter which is valued at $1,324.Seabridge Investment Advisors reduced its stake in CCK by selling 993 shares or 4.02% in the most recent quarter. The Hedge Fund company now holds 23,686 shares of CCK which is valued at $1,255,121. Crown Holdings makes up approx 0.29% of Seabridge Investment Advisors’s portfolio.

Crown Holdings opened for trading at $54.19 and hit $54.79 on the upside on Thursday, eventually ending the session at $54.77, with a gain of 1.00% or 0.54 points. The heightened volatility saw the trading volume jump to 14,06,793 shares. Company has a market cap of $7,650 M.

On the company’s financial health, Crown Holdings reported $1.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.11. The company had revenue of $2142.00 million for the quarter, compared to analysts expectations of $2239.75 million. The company’s revenue was down -6.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.03 EPS.

Crown Holdings Inc. is engaged in design manufacture and sale of packaging products for consumer goods. The Company’s business is organized within three divisions Americas Europe and Asia Pacific. Within each Division the Company is organized along product lines. Within the Americas Division the Company operates Americas Beverage and North America Food. Within the European Division the Company operates European Beverage and European Food. The Company’s Asia Pacific Division consists of beverage can operations and also includes the Company’s non-beverage can operations such as food cans and specialty packaging. The Company also operates European aerosol and specialty packaging business its North American aerosol can business and its tooling and equipment operations in the United States and United Kingdom. The Company’s products include steel and aluminum cans for food beverage household and other consumer products and metal vacuum closures and caps.

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