Van ECK Associates Corp Invests $2.61 Million in Crown Holdings, Inc. (NYSE:CCK)

Van ECK Associates Corp bought a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 31,530 shares of the industrial products company's stock, valued at approximately $2,607,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company's stock worth $44,000 after purchasing an additional 277 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Crown in the 3rd quarter worth approximately $44,000. GAMMA Investing LLC lifted its holdings in Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock worth $47,000 after purchasing an additional 261 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Crown in the 3rd quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Crown in the 3rd quarter worth approximately $55,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CCK. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Truist Financial upped their price target on Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a report on Monday, January 6th. Wells Fargo & Company upped their price target on Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Bank of America cut their price target on Crown from $107.00 to $101.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Barclays cut their price target on Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $105.69.

Crown Price Performance

NYSE:CCK traded down $1.34 during trading hours on Friday, reaching $87.33. The company had a trading volume of 1,884,481 shares, compared to its average volume of 1,365,361. The stock has a 50-day moving average of $85.25 and a two-hundred day moving average of $89.42. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The firm has a market capitalization of $10.45 billion, a PE ratio of 24.53, a PEG ratio of 1.55 and a beta of 0.87. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. Analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.