Canada Pension Plan Investment Board Acquires 10,274 Shares of Crown Holdings, Inc. (NYSE:CCK)

Canada Pension Plan Investment Board increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 41.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,274 shares of the industrial products company's stock after purchasing an additional 10,274 shares during the period. Canada Pension Plan Investment Board's holdings in Crown were worth $2,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Marshall Wace LLP lifted its stake in Crown by 19.9% in the fourth quarter. Marshall Wace LLP now owns 4,643 shares of the industrial products company's stock valued at $384,000 after buying an additional 769 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Crown by 588.0% in the 4th quarter. NewEdge Advisors LLC now owns 5,566 shares of the industrial products company's stock worth $460,000 after purchasing an additional 4,757 shares during the period. Jump Financial LLC bought a new position in Crown during the 4th quarter worth about $243,000. Reynders McVeigh Capital Management LLC raised its stake in shares of Crown by 2.1% in the 4th quarter. Reynders McVeigh Capital Management LLC now owns 306,949 shares of the industrial products company's stock valued at $25,382,000 after purchasing an additional 6,204 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Crown by 0.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 52,813 shares of the industrial products company's stock valued at $4,367,000 after purchasing an additional 230 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Trading Up 3.3 %

CCK stock opened at $86.97 on Wednesday. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. 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 company has a fifty day moving average price of $87.21 and a two-hundred day moving average price of $88.30. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46.

Crown (NYSE:CCK - Get Free Report) last issued 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 net margin of 3.59% and a return on equity of 25.12%. Equities analysts anticipate 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 was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.20%. This is a positive change from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 18th. Crown's dividend payout ratio is currently 29.21%.

Wall Street Analyst Weigh In

CCK has been the topic of several research reports. Morgan Stanley upgraded Crown from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $109.00 to $105.00 in a research note on Monday, January 13th. UBS Group cut their price objective 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. Citigroup raised their target price 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 price target on shares of Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Finally, Mizuho decreased their price objective on Crown from $110.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $105.42.

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.

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