Handelsbanken Fonder AB Boosts Position in Crown Holdings, Inc. (NYSE:CCK)

Handelsbanken Fonder AB boosted its holdings in Crown Holdings, Inc. (NYSE:CCK) by 5.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,100 shares of the industrial products company’s stock after buying an additional 1,100 shares during the period. Handelsbanken Fonder AB’s holdings in Crown were worth $1,851,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CCK. BluePath Capital Management LLC purchased a new position in Crown in the third quarter valued at approximately $25,000. Sound Income Strategies LLC purchased a new stake in shares of Crown during the fourth quarter valued at approximately $26,000. TFC Financial Management Inc. raised its stake 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 purchasing an additional 920 shares during the period. Fifth Third Bancorp raised its stake 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 purchasing an additional 318 shares during the period. Finally, Picton Mahoney Asset Management raised its stake 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 purchasing an additional 363 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCK. Morgan Stanley began coverage on shares of Crown in a research note on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research note on Wednesday, February 7th. Wolfe Research started coverage on shares of Crown in a research note on Friday, March 1st. They set an “outperform” rating and a $102.00 price objective on the stock. UBS Group started coverage on shares of Crown in a research report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price target for the company. Finally, Mizuho decreased their price target on shares of Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.21.

Crown Stock Performance

Crown stock opened at $80.59 on Friday. The company has a market cap of $9.73 billion, a PE ratio of 21.43, a P/E/G ratio of 2.67 and a beta of 0.91. The company has a fifty day moving average price of $77.26 and a two-hundred day moving average price of $82.63. 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 12 month low of $69.61 and a 12 month high of $96.35.

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

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.24%. This is a positive change from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio is currently 26.60%.

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.