Renaissance Technologies LLC Boosts Position in Crown Holdings, Inc. (NYSE:CCK)

Renaissance Technologies LLC increased its position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 146.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,008,500 shares of the industrial products company's stock after buying an additional 599,000 shares during the quarter. Renaissance Technologies LLC owned about 0.84% of Crown worth $83,393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after purchasing an additional 256 shares during the period. GAMMA Investing LLC raised its holdings in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock worth $47,000 after buying an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Crown by 20.0% in 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 buying an additional 117 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Crown by 48.6% during the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock valued at $68,000 after buying an additional 269 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Crown by 325.1% during the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock worth $70,000 after acquiring an additional 647 shares in the last quarter. Institutional investors own 90.93% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CCK shares. Morgan Stanley upgraded Crown from an "equal weight" rating to an "overweight" rating and cut their price target for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Barclays decreased their price target on Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Royal Bank of Canada raised 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. StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, UBS Group dropped their price target 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. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.00.

Crown Stock Performance

Shares of Crown stock traded up $1.57 on Monday, reaching $85.41. 250,619 shares of the company traded hands, compared to its average volume of 1,383,650. The company has a 50 day moving average of $87.53 and a 200 day moving average of $88.71. 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 52 week low of $70.84 and a 52 week high of $98.46. The firm has a market capitalization of $9.99 billion, a PE ratio of 23.99, a PEG ratio of 1.56 and a beta of 0.79.

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

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.26 per share. This is a boost from Crown's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.22%. Crown's payout ratio is presently 29.21%.

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.