Mitsubishi UFJ Asset Management Co. Ltd. Purchases 13,644 Shares of Crown Holdings, Inc. (NYSE:CCK)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 17.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 90,245 shares of the industrial products company's stock after buying an additional 13,644 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of Crown worth $7,268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Korea Investment CORP raised its stake in Crown by 99.1% during the 4th quarter. Korea Investment CORP now owns 143,252 shares of the industrial products company's stock valued at $11,846,000 after purchasing an additional 71,300 shares during the period. EntryPoint Capital LLC purchased a new stake in Crown during the 4th quarter valued at approximately $351,000. Walnut Level Capital LLC bought a new stake in shares of Crown during the fourth quarter valued at approximately $4,134,000. Stevens Capital Management LP purchased a new position in shares of Crown in the fourth quarter worth $310,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Crown during the fourth quarter worth $6,498,000. 90.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CCK. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Citigroup boosted their target price on Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Royal Bank of Canada raised their price target on Crown from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Bank of America reduced their price objective on Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Barclays lowered their target price on Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Crown presently has a consensus rating of "Moderate Buy" and an average target price of $106.00.

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Crown Trading Down 6.3 %

Shares of CCK traded down $5.62 during midday trading on Friday, hitting $83.10. The stock had a trading volume of 2,029,641 shares, compared to its average volume of 1,190,963. The stock's 50 day moving average is $88.44 and its 200 day moving average is $89.37. The firm has a market cap of $9.72 billion, a PE ratio of 23.34, a price-to-earnings-growth 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. 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 quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share 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 forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

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

Crown Company 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.