Walnut Level Capital LLC Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Walnut Level Capital LLC purchased a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 50,000 shares of the industrial products company's stock, valued at approximately $4,134,000. Crown comprises 1.6% of Walnut Level Capital LLC's portfolio, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 256 shares in the last quarter. Brooklyn Investment Group acquired a new position in Crown in the third quarter worth approximately $44,000. GAMMA Investing LLC raised its position in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 acquiring an additional 117 shares during the last quarter. Finally, True Wealth Design LLC grew its position in Crown by 6,850.0% in the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company's stock worth $67,000 after acquiring an additional 685 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

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Crown Trading Down 1.8 %

CCK traded down $1.65 during mid-day trading on Friday, reaching $88.19. The stock had a trading volume of 753,786 shares, compared to its average volume of 1,172,775. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. 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 P/E/G ratio of 1.56 and a beta of 0.88. The firm's fifty day simple moving average is $88.32 and its two-hundred day simple moving average is $89.45.

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, 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%. On average, equities analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. 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 note on Friday, February 7th. Bank of America cut their price objective on Crown from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Citigroup upped their target price on Crown from $110.00 to $111.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Mizuho dropped their price target on shares of Crown from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised shares of Crown from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $106.00.

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.