AlphaQuest LLC Increases Position in Crown Holdings, Inc. (NYSE:CCK)

AlphaQuest LLC lifted its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 257.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,277 shares of the industrial products company's stock after acquiring an additional 24,684 shares during the period. Crown accounts for about 0.4% of AlphaQuest LLC's portfolio, making the stock its 20th largest position. AlphaQuest LLC's holdings in Crown were worth $2,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Crown by 20.0% during 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 during the period. Spire Wealth Management raised its holdings 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 buying an additional 138 shares during the last quarter. Marshall & Sullivan Inc. WA lifted its stake in shares of 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 buying an additional 155 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings 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 valued at $3,758,000 after buying an additional 165 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Crown by 3.8% in the 3rd quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company's stock worth $481,000 after acquiring an additional 185 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CCK. Citigroup raised their price target on shares of Crown from $110.00 to $111.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Friday, February 7th. Mizuho reduced their target price on Crown from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Morgan Stanley upgraded 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 report on Monday, January 13th. Finally, UBS Group reduced their price objective on Crown from $113.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and a consensus price target of $106.00.

Crown Price Performance

NYSE CCK traded down $1.78 on Thursday, reaching $86.99. 1,409,632 shares of the company's stock traded hands, compared to its average volume of 1,139,246. The stock has a market cap of $10.23 billion, a PE ratio of 24.43, a P/E/G ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The stock has a 50-day simple moving average of $86.62 and a 200 day simple moving average of $89.55. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80.

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 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%. As a group, research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.20%. This is a boost 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 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.