Forum Financial Management LP Makes New $244,000 Investment in Crown Holdings, Inc. (NYSE:CCK)

Forum Financial Management LP purchased a new stake in shares of 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 (SEC). The firm purchased 2,953 shares of the industrial products company's stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Crown during the 3rd quarter worth about $861,000. Sanctuary Advisors LLC boosted its stake in Crown by 57.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 8,936 shares of the industrial products company's stock valued at $829,000 after purchasing an additional 3,264 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Crown by 48.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 16,575 shares of the industrial products company's stock valued at $1,589,000 after purchasing an additional 5,397 shares during the period. Tidal Investments LLC raised its stake in shares of Crown by 121.3% in the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company's stock worth $2,109,000 after buying an additional 12,058 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Crown by 3.6% in the third quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company's stock valued at $87,949,000 after buying an additional 32,909 shares during the period. 90.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CCK shares. Mizuho dropped their price target 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. Truist Financial cut their target price on shares of Crown from $107.00 to $97.00 and set a "hold" rating for the company in a research note on Tuesday. Citigroup lifted their price target on shares of Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Bank of America reduced their price objective on Crown from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, 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 report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown presently has an average rating of "Moderate Buy" and a consensus target price of $105.42.

Crown Price Performance

NYSE CCK opened at $86.97 on Wednesday. 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 firm has a market capitalization 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 50 day simple moving average of $87.21 and a 200-day simple moving average of $88.30. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Equities research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Crown's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.20%. Crown's dividend payout ratio (DPR) is 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.

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