Nicola Wealth Management LTD. Reduces Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Nicola Wealth Management LTD. lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,000 shares of the industrial products company’s stock after selling 28,000 shares during the quarter. Crown accounts for approximately 1.7% of Nicola Wealth Management LTD.’s holdings, making the stock its 23rd biggest holding. Nicola Wealth Management LTD. owned 0.16% of Crown worth $15,959,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CCK. International Assets Investment Management LLC purchased a new position in shares of Crown in the third quarter valued at $2,087,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Crown in the third quarter valued at $55,000. State of Alaska Department of Revenue increased its position in shares of Crown by 6.3% in the third quarter. State of Alaska Department of Revenue now owns 13,845 shares of the industrial products company’s stock valued at $1,327,000 after buying an additional 815 shares in the last quarter. abrdn plc purchased a new position in shares of Crown in the third quarter valued at $321,000. Finally, First Trust Direct Indexing L.P. purchased a new position in shares of Crown in the third quarter valued at $263,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CCK shares. UBS Group dropped their price objective on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 10th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Mizuho dropped 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. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Finally, Truist Financial lifted their price objective on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Stock Down 1.6 %

Shares of NYSE:CCK opened at $88.21 on Tuesday. The stock’s 50-day moving average price is $85.65 and its two-hundred day moving average price is $89.54. 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 12-month low of $70.84 and a 12-month high of $98.46. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.56 and a beta of 0.87.

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%. On average, research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.26 dividend. This is a positive change from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Tuesday, March 18th. Crown’s payout ratio is currently 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.