Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Lyrical Asset Management LP

Lyrical Asset Management LP lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 31.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,970 shares of the industrial products company's stock after selling 23,324 shares during the quarter. Lyrical Asset Management LP's holdings in Crown were worth $4,215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in shares of Crown by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company's stock worth $477,923,000 after buying an additional 102,789 shares in the last quarter. State Street Corp grew its holdings in Crown by 1.8% during the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company's stock worth $383,559,000 after acquiring an additional 69,260 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Crown by 10,138.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock worth $256,762,000 after acquiring an additional 3,074,791 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Crown by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company's stock valued at $245,408,000 after purchasing an additional 283,014 shares in the last quarter. Finally, Metropolis Capital Ltd lifted its position in shares of Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock worth $203,116,000 after purchasing an additional 1,000,605 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several brokerages recently weighed in on CCK. Wells Fargo & Company boosted their price objective on Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a report on Friday, February 7th. Barclays lowered their price target on Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Mizuho reduced their price objective on Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada boosted their target price on shares of Crown from $113.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Morgan Stanley upgraded shares of Crown from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Crown has an average rating of "Moderate Buy" and a consensus price target of $106.00.

Crown Stock Performance

Shares of NYSE:CCK traded up $1.07 during trading hours on Friday, hitting $83.10. The stock had a trading volume of 243,486 shares, compared to its average volume of 1,195,920. The stock's fifty day simple moving average is $87.56 and its 200 day simple moving average is $88.83. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.56 and a beta of 0.79. 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.

Crown (NYSE:CCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Crown's previous quarterly dividend of $0.25. Crown's dividend payout ratio is currently 29.21%.

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.