Crown Holdings, Inc. (NYSE:CCK) Shares Bought by Carmel Capital Partners LLC

Carmel Capital Partners LLC raised its holdings in Crown Holdings, Inc. (NYSE:CCK) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,782 shares of the industrial products company’s stock after purchasing an additional 632 shares during the period. Carmel Capital Partners LLC’s holdings in Crown were worth $1,470,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. FMR LLC raised its position in shares of Crown by 9.3% in the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after purchasing an additional 749,085 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Crown by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after acquiring an additional 102,789 shares during the last quarter. State Street Corp increased its holdings in shares of Crown by 1.8% in the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after acquiring an additional 69,260 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Crown by 10,138.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after acquiring an additional 3,074,791 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Crown by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock valued at $245,408,000 after acquiring an additional 283,014 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Truist Financial boosted their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Mizuho lowered their price target on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $109.00 to $105.00 in a report on Monday, January 13th. Finally, Citigroup upped their price objective on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Trading Up 2.7 %

NYSE:CCK opened at $88.34 on Thursday. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.56 and a beta of 0.87. The business has a fifty day moving average of $85.79 and a 200-day moving average of $89.53. 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 (NYSE:CCK) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 is a positive change from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.18%. Crown’s dividend payout ratio is currently 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.