Abacus FCF Advisors LLC Buys 7,192 Shares of Crown Holdings, Inc. (NYSE:CCK)

Abacus FCF Advisors LLC increased its position in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,655 shares of the industrial products company's stock after acquiring an additional 7,192 shares during the quarter. Abacus FCF Advisors LLC's holdings in Crown were worth $1,873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CCK. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after purchasing an additional 117 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Crown by 4.6% in the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company's stock valued at $237,000 after buying an additional 125 shares in the last quarter. Spire Wealth Management grew its stake in Crown by 16.2% in the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company's stock valued at $82,000 after buying an additional 138 shares in the last quarter. Marshall & Sullivan Inc. WA lifted its position in shares of Crown by 0.3% during the fourth quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company's stock worth $4,735,000 after acquiring an additional 155 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of Crown by 0.4% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company's stock worth $3,758,000 after acquiring an additional 165 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, February 7th. UBS Group lowered their price target on shares of Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Morgan Stanley raised shares of Crown from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Mizuho cut their price target on shares of Crown from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Finally, Truist Financial boosted their price target on shares of Crown from $103.00 to $104.00 and gave the company a "hold" rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and an average price target of $106.00.

Crown Price Performance

CCK stock traded up $1.72 during mid-day trading on Friday, hitting $83.75. 846,487 shares of the stock were exchanged, compared to its average volume of 1,200,198. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.56 and a beta of 0.79. The business has a fifty day moving average price of $87.53 and a 200 day moving average price of $88.71. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. On average, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 18th. This is an increase from Crown's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.24%. Crown's payout ratio is currently 29.21%.

About Crown

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.