Sei Investments Co. Has $19.84 Million Position in Crown Holdings, Inc. (NYSE:CCK)

Sei Investments Co. grew its holdings in Crown Holdings, Inc. (NYSE:CCK) by 21.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 239,878 shares of the industrial products company’s stock after buying an additional 42,100 shares during the quarter. Sei Investments Co.’s holdings in Crown were worth $19,835,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Quantbot Technologies LP bought a new stake in Crown during the 4th quarter worth about $1,085,000. Adams Natural Resources Fund Inc. bought a new stake in shares of Crown during the fourth quarter valued at approximately $3,490,000. Adams Diversified Equity Fund Inc. bought a new stake in shares of Crown during the fourth quarter valued at approximately $4,647,000. TD Private Client Wealth LLC increased its holdings in shares of Crown by 4.6% in the fourth quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 125 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its position in Crown by 3.8% in the 4th quarter. iA Global Asset Management Inc. now owns 5,530 shares of the industrial products company’s stock worth $457,000 after purchasing an additional 204 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCK has been the subject of several research reports. Barclays lowered their target price on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Truist Financial upped their target price on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. UBS Group lowered their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Citigroup increased their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.00.

Crown Stock Performance

CCK stock opened at $89.99 on Friday. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The firm has a market cap of $10.53 billion, a PE ratio of 25.28, a P/E/G ratio of 1.56 and a beta of 0.88. The business’s 50-day moving average price is $88.27 and its two-hundred day moving average price is $89.47.

Crown (NYSE:CCK) last released its quarterly earnings data 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 earnings per share for the current year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is presently 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.