Insiders Are Dumping Shares of Fortune Brands Home & Security Inc. (FBHS), Under Armour Inc. (UA) and Crown Holdings Inc. (CCK)

Manufacturer of Packaged Products Had Executive Offload Massive Block of Shares

Crown Holdings Inc. (NYSE:CCK) also had one of its executives sell a voluminous block of shares earlier this week. Jozef Salaerts, President of the company’s Asia-Pacific Division, offloaded 20,399 shares on Monday at a weighted average price of $53.39, cutting his ownership to 111,008 shares.

Crown Holdings’ business operations primarily involves designing, manufacturing and marketing packaged products for consumer goods. Precisely, the company’s main products include steel and aluminum cans, glass bottles for beverage products and metal vacuum closers and caps. The aforementioned insider selling comes after Crown Holdings released its first-quarter earnings report, which showed net sales of $1.89 billion. This represents a decrease from nearly $2.00 billion generated in the first quarter of 2015, partly owing to an $85 million unfavorable currency translation. The company’s beverage can unit volume increased 7% year-on-year as consumers in emerging and developed markets continue to favor cans over other beverage packaging formats. As a result, Crown Holdings plans to expand capacity so as to meet the fast-increasing demand. Specifically, the company is currently developing a third beverage can plant in Cambodia and adding can end capability to one of its Cambodian beverage can plants.

Shares of Crown Holdings are up 6% year-to-date, after having gained 18% in the past three months alone. Meanwhile, the stock is priced at 12.7-times expected earnings, below the forward PE multiple of 17.8 for the companies included in the S&P 500 Index. Charles Paquelet’s Skylands Capital trimmed its stake in Crown Holdings Inc. (NYSE:CCK) by 28% during the January-March quarter to a mere 5,800 shares.

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