Resona Asset Management Co. Ltd. Invests $2.89 Million in Crown Holdings, Inc. (NYSE:CCK)

Resona Asset Management Co. Ltd. acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 34,969 shares of the industrial products company's stock, valued at approximately $2,894,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in 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 buying an additional 256 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Crown by 84.2% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Crown by 20.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock valued at $57,000 after acquiring an additional 117 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock valued at $68,000 after purchasing an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Crown by 325.1% in the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock worth $70,000 after purchasing an additional 647 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CCK shares. Wells Fargo & Company boosted their price objective on Crown from $86.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. Barclays cut their price target on shares of Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Mizuho decreased their price objective on shares of Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Bank of America cut their target price on shares of Crown from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, UBS Group decreased their price target on shares of Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.00.

Crown Price Performance

Shares of CCK stock traded down $0.61 during trading hours on Tuesday, reaching $85.44. The company had a trading volume of 289,381 shares, compared to its average volume of 1,195,289. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 1.56 and a beta of 0.79. The stock has a fifty day moving average of $87.55 and a 200-day moving average of $88.65.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) 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, equities analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a $0.26 dividend. This is a boost from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.04 annualized dividend and a dividend yield of 1.22%. Crown's dividend payout ratio is 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.