Connor Clark & Lunn Investment Management Ltd. acquired a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,347 shares of the industrial products company's stock, valued at approximately $2,013,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCK. Farther Finance Advisors LLC grew its stake in Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after acquiring an additional 256 shares in the last quarter. Brooklyn Investment Group bought a new position in Crown in the 3rd quarter worth about $44,000. GAMMA Investing LLC grew its stake in Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock worth $47,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Crown by 20.0% in 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. Finally, True Wealth Design LLC grew its stake in Crown by 6,850.0% in the 3rd quarter. True Wealth Design LLC now owns 695 shares of the industrial products company's stock worth $67,000 after acquiring an additional 685 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CCK has been the subject of several recent analyst reports. Mizuho lowered their target price on shares of Crown from $110.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company raised their price target on shares of Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a report on Friday, February 7th. Bank of America decreased their price target on shares of Crown from $107.00 to $101.00 and set a "buy" rating for the company in a report on Monday, January 6th. Barclays reduced their target price 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. Finally, Truist Financial raised their target price on shares of Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $106.00.
Read Our Latest Research Report on Crown
Crown Stock Performance
CCK stock traded down $2.77 during midday trading on Friday, hitting $87.39. 5,027,471 shares of the stock traded hands, compared to its average volume of 1,139,563. The firm has a market cap of $10.27 billion, a P/E ratio of 24.55, a PEG ratio of 1.56 and a beta of 0.88. 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 stock's fifty day simple moving average is $87.90 and its 200-day simple moving average is $89.53. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46.
Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.
Crown Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.26 per share. 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 yield of 1.19%. Crown's payout ratio is presently 29.21%.
About Crown
(
Free Report)
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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