Sterling Capital Management LLC Sells 226,820 Shares of Crown Holdings, Inc. (NYSE:CCK)

Sterling Capital Management LLC cut its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 75.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,502 shares of the industrial products company's stock after selling 226,820 shares during the quarter. Sterling Capital Management LLC owned about 0.06% of Crown worth $6,243,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. HighTower Advisors LLC raised its stake in Crown by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 10,432 shares of the industrial products company's stock valued at $1,007,000 after purchasing an additional 1,609 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Crown by 12.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 36,467 shares of the industrial products company's stock valued at $3,496,000 after buying an additional 4,020 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Crown by 43.7% in the third quarter. Public Employees Retirement System of Ohio now owns 64,071 shares of the industrial products company's stock valued at $6,143,000 after buying an additional 19,492 shares during the period. M&T Bank Corp grew its position in Crown by 3.8% during the third quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company's stock worth $481,000 after buying an additional 185 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Crown by 4.2% during the third quarter. Geode Capital Management LLC now owns 2,061,869 shares of the industrial products company's stock valued at $197,242,000 after acquiring an additional 82,764 shares during the period. 90.93% of the stock is owned by institutional investors.

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Crown Price Performance

Shares of CCK traded down $1.21 on Tuesday, hitting $84.83. The company's stock had a trading volume of 832,828 shares, compared to its average volume of 1,196,665. The company has a 50 day moving average price of $87.55 and a 200 day moving average price of $88.65. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The company has a market capitalization of $9.92 billion, a PE ratio of 23.83, a PEG ratio of 1.56 and a beta of 0.79. 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 (NYSE:CCK - Get Free Report) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 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%. On average, research analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share 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 paid a dividend of $0.26 per share. This is a boost from Crown's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Tuesday, March 18th. Crown's dividend payout ratio is 29.21%.

Wall Street Analyst Weigh In

CCK has been the topic of a number of research reports. UBS Group lowered their price objective on Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Truist Financial boosted their price target on shares of Crown from $103.00 to $104.00 and gave the company a "hold" rating in a report on Monday, January 6th. Morgan Stanley upgraded shares of Crown from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $109.00 to $105.00 in a research report on Monday, January 13th. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Finally, Barclays decreased their price objective on Crown from $112.00 to $109.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $106.00.

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.