Benzinga | Oct 20, 2020 03:28PM EDT

Why Crown Holdings Stock Is Trading Higher Today

Crown Holdings (NYSE:CCK) shares are trading higher on Tuesday after the company reported better-than-expected third-quarter EPS and sales results. The company also issued fourth-quarter and fiscal year 2020 EPS guidance above estimates.

Crown Holdings is one of the world's largest producers of metal packaging. The company manufactures beverage cans, metal food cans, and closures as well as aerosol cans. With the purchase of Signode, the company also has a presence in a wide variety of protective transport packaging. Although it's headquartered in the United States, the vast majority of Crown's sales come from its operations in Europe, South America, and Southeast Asia.

Crown Holdings shares traded up 7.04% to $87.94 on Tuesday. The stock has a 52-week high of $90.22 and a 52-week low of $42.97.