Machina Capital S.A.S. Buys New Position in Crown Holdings, Inc. (NYSE:CCK)

Machina Capital S.A.S. acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,036 shares of the industrial products company’s stock, valued at approximately $499,000.

Other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC grew its stake in Crown by 121.3% during the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after purchasing an additional 12,058 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Crown by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,041 shares of the industrial products company’s stock valued at $23,878,000 after purchasing an additional 10,295 shares in the last quarter. Jensen Investment Management Inc. grew its stake in Crown by 7.8% during the 3rd quarter. Jensen Investment Management Inc. now owns 100,918 shares of the industrial products company’s stock valued at $9,676,000 after purchasing an additional 7,280 shares in the last quarter. Nordea Investment Management AB grew its stake in Crown by 19.3% during the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock valued at $90,511,000 after purchasing an additional 176,959 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Crown by 7.8% during the 3rd quarter. Victory Capital Management Inc. now owns 5,676,902 shares of the industrial products company’s stock valued at $544,301,000 after purchasing an additional 412,973 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Up 2.6 %

Shares of Crown stock opened at $91.77 on Friday. The business’s fifty day moving average price is $86.18 and its two-hundred day moving average price is $89.54. 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 company has a market capitalization of $10.79 billion, a P/E ratio of 25.78, a PEG ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46.

Crown (NYSE:CCK) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating the consensus estimate 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, research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.13%. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is presently 29.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial raised their price objective on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. UBS Group decreased their target price on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Citigroup lifted 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. Finally, Barclays decreased their target price on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

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.