Adams Diversified Equity Fund Inc. Invests $4.65 Million in Crown Holdings, Inc. (NYSE:CCK)

Adams Diversified Equity Fund Inc. purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 56,200 shares of the industrial products company's stock, valued at approximately $4,647,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCK. CIBC Asset Management Inc increased its position in shares of Crown by 5.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,304 shares of the industrial products company's stock valued at $413,000 after acquiring an additional 225 shares during the period. Quest Partners LLC increased its holdings in shares of Crown by 3,676.8% in the third quarter. Quest Partners LLC now owns 9,593 shares of the industrial products company's stock valued at $920,000 after purchasing an additional 9,339 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Crown in the third quarter worth about $533,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Crown by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 803,735 shares of the industrial products company's stock worth $77,062,000 after purchasing an additional 13,145 shares during the period. Finally, Raymond James Trust N.A. purchased a new stake in Crown in the third quarter valued at approximately $277,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Price Performance

Crown stock traded down $1.29 during trading on Tuesday, reaching $87.10. The company had a trading volume of 1,088,909 shares, compared to its average volume of 1,139,470. The firm has a market capitalization of $10.24 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The firm's 50-day simple moving average is $88.02 and its 200 day simple moving average is $89.50. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46.

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

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, March 18th. This is a positive change from Crown's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.19%. Crown's payout ratio is currently 29.21%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CCK. Truist Financial upped their price objective on shares of Crown from $103.00 to $104.00 and gave the company a "hold" rating in a report on Monday, January 6th. 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. Barclays reduced their price objective on Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Mizuho lowered their target price on Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada raised their target price on Crown from $113.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $106.00.

Crown 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.