Vestmark Advisory Solutions Inc. Sells 890 Shares of Crown Holdings, Inc. (NYSE:CCK)

Vestmark Advisory Solutions Inc. reduced its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,856 shares of the industrial products company’s stock after selling 890 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Crown were worth $898,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of Crown by 189.5% in the 3rd quarter. US Bancorp DE now owns 2,148 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 1,406 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Crown by 76.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 44,466 shares of the industrial products company’s stock worth $4,263,000 after buying an additional 19,313 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Crown in the third quarter valued at approximately $210,000. Capital Performance Advisors LLP acquired a new stake in shares of Crown in the third quarter valued at approximately $144,000. Finally, Carmel Capital Partners LLC boosted its stake in shares of Crown by 2.3% during the 3rd quarter. Carmel Capital Partners LLC now owns 17,150 shares of the industrial products company’s stock worth $1,644,000 after acquiring an additional 388 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Performance

NYSE CCK opened at $91.77 on Friday. The firm’s 50 day simple moving average is $86.01 and its 200 day simple moving average is $89.52. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 1.56 and a beta of 0.87. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share 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, research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal 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. This is an increase from Crown’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.13%. Crown’s payout ratio is presently 29.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Mizuho reduced their price objective on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Citigroup increased their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada upped their price objective on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Bank of America lowered their price objective on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.00.

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.