Magnetar Financial LLC Invests $373,000 in Crown Holdings, Inc. (NYSE:CCK)

Magnetar Financial LLC acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,511 shares of the industrial products company’s stock, valued at approximately $373,000.

A number of other hedge funds also recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd raised its position in shares of Crown by 6,322.2% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,734 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 1,707 shares during the last quarter. Vinva Investment Management Ltd raised its position in shares of Crown by 208.2% during the fourth quarter. Vinva Investment Management Ltd now owns 11,911 shares of the industrial products company’s stock worth $975,000 after acquiring an additional 8,046 shares during the last quarter. Xponance Inc. raised its position in shares of Crown by 10.7% during the fourth quarter. Xponance Inc. now owns 20,432 shares of the industrial products company’s stock worth $1,690,000 after acquiring an additional 1,974 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Crown by 13.1% during the fourth quarter. Intech Investment Management LLC now owns 7,655 shares of the industrial products company’s stock worth $633,000 after acquiring an additional 886 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new position in shares of Crown during the fourth quarter worth about $3,388,000. 90.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCK. Mizuho lowered their price objective on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. 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. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Royal Bank of Canada lifted their target price on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, UBS Group lowered their target price on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crown Trading Down 3.1 %

Shares of Crown stock opened at $87.39 on Friday. 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 50 day moving average price of $87.90 and a two-hundred day moving average price of $89.52. The stock has a market capitalization of $10.27 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 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, equities analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This is a boost from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 annualized dividend and a dividend yield of 1.19%. Crown’s payout ratio is presently 29.21%.

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.