Norges Bank Buys Shares of 1,373,416 Crown Holdings, Inc. (NYSE:CCK)

Norges Bank acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,373,416 shares of the industrial products company's stock, valued at approximately $113,568,000. Norges Bank owned about 1.15% of Crown as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCK. Tidal Investments LLC raised its position in Crown by 121.3% in the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company's stock valued at $2,109,000 after purchasing an additional 12,058 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Crown by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company's stock valued at $90,511,000 after buying an additional 176,959 shares during the last quarter. Metropolis Capital Ltd boosted its stake 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 buying an additional 1,000,605 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Crown by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock worth $67,183,000 after buying an additional 8,739 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Crown in the 3rd quarter valued at about $861,000. Institutional investors and hedge funds own 90.93% of the company's stock.

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Crown Price Performance

Shares of NYSE:CCK traded down $5.62 during trading on Friday, hitting $83.10. 2,029,641 shares of the stock were exchanged, compared to its average volume of 1,190,963. The company has a market cap of $9.72 billion, a PE ratio of 23.34, a P/E/G ratio of 1.56 and a beta of 0.88. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The company has a fifty day moving average price of $88.44 and a two-hundred day moving average price of $89.32. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month 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 earnings per share 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%. On average, analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a $0.26 dividend. 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. This represents a $1.04 annualized dividend and a dividend yield of 1.25%. Crown's dividend payout ratio is currently 29.21%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Mizuho dropped their target price on Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company lifted their price objective on shares of Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. UBS Group reduced their target price on shares of Crown from $113.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, January 10th. 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. Finally, Royal Bank of Canada increased their price target on shares of Crown from $113.00 to $115.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and a consensus target price 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.