Alliancebernstein L.P. Acquires 3,563 Shares of Crown Holdings, Inc. (NYSE:CCK)

Alliancebernstein L.P. increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 163,674 shares of the industrial products company’s stock after purchasing an additional 3,563 shares during the quarter. Alliancebernstein L.P.’s holdings in Crown were worth $13,534,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CCK. Farther Finance Advisors LLC grew its stake in shares of Crown by 160.0% during the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after buying an additional 117 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Crown by 48.6% during the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after buying an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Crown by 325.1% during the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock worth $70,000 after buying an additional 647 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CCK. Wells Fargo & Company lifted their target price on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Truist Financial raised their price target on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. UBS Group decreased their price target on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada raised 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. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Stock Performance

Crown stock opened at $83.47 on Thursday. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The business’s 50-day moving average price is $87.67 and its two-hundred day moving average price is $88.92. The stock has a market cap of $9.76 billion, a PE ratio of 23.45, a P/E/G ratio of 1.56 and a beta of 0.79.

Crown (NYSE:CCK) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal 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 issued 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 1.25%. The ex-dividend date was Tuesday, March 18th. Crown’s payout ratio is 29.21%.

Crown 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.