Bryce Point Capital LLC Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Bryce Point Capital LLC purchased a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,956 shares of the industrial products company's stock, valued at approximately $493,000.

Other hedge funds have also made changes to their positions in the company. Tidal Investments LLC boosted its position in Crown by 121.3% during the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company's stock worth $2,109,000 after purchasing an additional 12,058 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Crown by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company's stock worth $90,511,000 after buying an additional 176,959 shares during the period. Metropolis Capital Ltd grew its stake in Crown by 68.7% in the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock valued at $203,116,000 after buying an additional 1,000,605 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Crown by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock valued at $67,183,000 after buying an additional 8,739 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Crown in the 3rd quarter worth $861,000. Institutional investors and hedge funds own 90.93% of the company's stock.

Crown Price Performance

Shares of CCK stock traded up $5.00 during trading hours on Wednesday, hitting $83.47. The company had a trading volume of 1,900,357 shares, compared to its average volume of 1,199,382. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.56 and a beta of 0.79. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The firm's fifty day moving average is $87.67 and its 200 day moving average is $88.92.

Remove Ads

Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings data 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 predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.25%. This is a boost from Crown's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 18th. Crown's dividend payout ratio (DPR) is currently 29.21%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CCK shares. Bank of America lowered their price target on Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Wells Fargo & Company increased their price objective on Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Mizuho dropped their target price on shares of Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays reduced their price target on shares of Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.00.

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.