Inceptionr LLC Takes $1.96 Million Position in Crown Holdings, Inc. (NYSE:CCK)

Inceptionr LLC purchased a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 23,688 shares of the industrial products company's stock, valued at approximately $1,959,000. Crown accounts for 0.4% of Inceptionr LLC's portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Crown during the third quarter valued at approximately $55,000. abrdn plc acquired a new stake in shares of Crown during the 3rd quarter valued at $321,000. US Bancorp DE boosted its stake in shares of Crown by 189.5% during the 3rd quarter. US Bancorp DE now owns 2,148 shares of the industrial products company's stock worth $206,000 after acquiring an additional 1,406 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Crown by 76.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 44,466 shares of the industrial products company's stock worth $4,263,000 after acquiring an additional 19,313 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of Crown during the third quarter worth $210,000. Institutional investors own 90.93% of the company's stock.

Crown Stock Down 0.5 %

NYSE:CCK traded down $0.50 during trading hours on Monday, reaching $91.24. The company's stock had a trading volume of 2,071,304 shares, compared to its average volume of 1,132,771. 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 market cap of $10.73 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The business's 50-day moving average is $86.18 and its 200-day moving average is $89.55.

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Crown (NYSE:CCK - Get Free Report) last released its quarterly earnings results 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 return on equity of 25.12% and a net margin of 3.59%. Equities research analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This is a positive change from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.14%. Crown's payout ratio is currently 29.21%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CCK shares. Royal Bank of Canada lifted their price target on Crown from $113.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their target price 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. Citigroup upped their price target 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. UBS Group lowered 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. Finally, StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $106.00.

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.