12,413 Shares in Crown Holdings, Inc. (NYSE:CCK) Acquired by Strs Ohio

Strs Ohio acquired a new stake in Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,413 shares of the industrial products company’s stock, valued at approximately $1,143,000.

A number of other hedge funds have also recently added to or reduced their stakes in CCK. BluePath Capital Management LLC acquired a new stake in Crown in the third quarter valued at approximately $25,000. Sound Income Strategies LLC purchased a new position in shares of Crown during the fourth quarter valued at approximately $26,000. TFC Financial Management Inc. boosted its position in shares of Crown by 23,000.0% during the third quarter. TFC Financial Management Inc. now owns 924 shares of the industrial products company’s stock valued at $82,000 after buying an additional 920 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Crown by 46.0% during the third quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock valued at $89,000 after buying an additional 318 shares during the last quarter. Finally, Picton Mahoney Asset Management boosted its position in shares of Crown by 53.9% during the third quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company’s stock valued at $92,000 after buying an additional 363 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analysts Set New Price Targets

CCK has been the topic of several analyst reports. JPMorgan Chase & Co. raised Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Wednesday, February 7th. Robert W. Baird raised Crown from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $85.00 to $90.00 in a research report on Tuesday, April 16th. UBS Group began coverage on Crown in a research report on Tuesday, January 16th. They set a “buy” rating and a $112.00 target price on the stock. Truist Financial reiterated a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Finally, Wells Fargo & Company dropped their price target on Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.21.

Crown Stock Performance

Shares of CCK opened at $78.59 on Wednesday. The firm has a market cap of $9.49 billion, a PE ratio of 20.90, a PEG ratio of 2.63 and a beta of 0.91. The stock’s fifty day moving average price is $76.90 and its two-hundred day moving average price is $82.71. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $96.35.

Crown (NYSE:CCK) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.96 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 earnings per share. On average, equities research analysts forecast that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. Crown’s payout ratio is presently 26.60%.

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.