Hillsdale Investment Management Inc. Makes New $693,000 Investment in Crown Holdings, Inc. (NYSE:CCK)

Hillsdale Investment Management Inc. 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 13F filing with the SEC. The firm purchased 8,380 shares of the industrial products company's stock, valued at approximately $693,000.

A number of other hedge funds also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after buying an additional 256 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Crown in the 3rd quarter worth about $44,000. GAMMA Investing LLC increased its holdings 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 117 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in Crown by 6,850.0% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company's stock worth $67,000 after purchasing an additional 685 shares during the period. Institutional investors own 90.93% of the company's stock.

Crown Price Performance

Shares of CCK stock traded up $0.82 during trading on Thursday, hitting $89.99. The company had a trading volume of 801,879 shares, compared to its average volume of 1,138,958. The stock's 50-day moving average is $88.08 and its two-hundred day moving average is $89.47. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $98.46.

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Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping 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%. As a group, analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.16%. This is a positive change from Crown's previous quarterly dividend of $0.25. Crown's payout ratio is 29.21%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Mizuho lowered 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. Barclays lowered their target price on shares of Crown from $112.00 to $109.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Truist Financial raised their price target on Crown from $103.00 to $104.00 and gave the stock a "hold" rating in a report on Monday, January 6th. Royal Bank of Canada boosted their price objective on Crown from $113.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company raised their target price on Crown from $86.00 to $90.00 and gave the stock an "equal weight" rating in a research note 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.00.

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.