Stevens Capital Management LP Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Stevens Capital Management LP bought a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,750 shares of the industrial products company's stock, valued at approximately $310,000.

Several other institutional investors and hedge funds have also made changes to their positions in CCK. FMR LLC lifted its holdings in Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company's stock valued at $842,556,000 after buying an additional 749,085 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Crown by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company's stock valued at $477,923,000 after acquiring an additional 102,789 shares in the last quarter. State Street Corp boosted its holdings in shares of Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company's stock valued at $383,559,000 after purchasing an additional 69,260 shares during the period. Pacer Advisors Inc. grew its stake in Crown by 10,138.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock worth $256,762,000 after purchasing an additional 3,074,791 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Crown by 10.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company's stock worth $245,408,000 after purchasing an additional 283,014 shares during the period. 90.93% of the stock is currently owned by institutional investors.

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Crown Stock Down 1.8 %

Crown stock traded down $1.65 during midday trading on Friday, reaching $88.19. The company's stock had a trading volume of 753,786 shares, compared to its average volume of 1,172,775. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46. The stock has a market capitalization of $10.31 billion, a P/E ratio of 24.77, a PEG 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. The stock's 50-day simple moving average is $88.32 and its 200-day simple moving average is $89.45.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS 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%. On average, sell-side analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.26 dividend. This is a positive change from Crown's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.18%. Crown's dividend payout ratio (DPR) is 29.21%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CCK. Royal Bank of Canada increased their price target on Crown from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. UBS Group dropped their target price on shares of Crown from $113.00 to $108.00 and set a "buy" rating on the stock in a 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. Mizuho dropped their price objective on shares of Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays reduced their price objective on shares of Crown from $112.00 to $109.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.