Adams Natural Resources Fund Inc. Invests $3.49 Million in Crown Holdings, Inc. (NYSE:CCK)

Adams Natural Resources Fund Inc. acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 42,200 shares of the industrial products company's stock, valued at approximately $3,490,000.

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

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Analysts Set New Price Targets

A number of brokerages recently commented on CCK. Wells Fargo & Company increased their price objective on shares of 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 research report on Friday, January 10th. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Bank of America reduced their target price on Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley raised Crown from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Crown has an average rating of "Moderate Buy" and a consensus target price of $106.00.

Crown Trading Up 2.3 %

Crown stock traded up $2.03 during trading on Wednesday, hitting $89.18. The company's stock had a trading volume of 968,960 shares, compared to its average volume of 1,139,812. The stock's fifty day moving average is $88.08 and its 200 day moving average is $89.47. 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. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating 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 predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown's dividend payout ratio is presently 29.21%.

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.