Walnut Level Capital LLC Takes $4.13 Million Position in Crown Holdings, Inc. (NYSE:CCK)

Walnut Level Capital LLC bought a new stake in Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the industrial products company’s stock, valued at approximately $4,134,000. Crown comprises approximately 1.6% of Walnut Level Capital LLC’s portfolio, making the stock its 13th largest holding.

A number of other institutional investors also recently modified their holdings of CCK. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after buying an additional 117 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Crown by 4.6% in the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock valued at $237,000 after buying an additional 125 shares in the last quarter. Spire Wealth Management increased its position in shares of Crown by 16.2% in the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock valued at $82,000 after buying an additional 138 shares in the last quarter. Marshall & Sullivan Inc. WA increased its position in shares of Crown by 0.3% in the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock valued at $4,735,000 after buying an additional 155 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of Crown by 0.4% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company’s stock valued at $3,758,000 after buying an additional 165 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CCK. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Bank of America lowered their price objective on shares of Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Finally, Citigroup increased their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crown currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Trading Down 3.1 %

Crown stock opened at $87.39 on Monday. The firm has a 50-day moving average of $87.90 and a 200-day moving average of $89.51. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 24.55, a P/E/G ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last posted its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. On average, equities analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company 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 $0.26 dividend. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is 29.21%.

About Crown

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.