Pinebridge Investments L.P. Boosts Holdings in Crown Holdings, Inc. (NYSE:CCK)

Pinebridge Investments L.P. raised its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 64.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,183 shares of the industrial products company’s stock after buying an additional 15,794 shares during the period. Pinebridge Investments L.P.’s holdings in Crown were worth $3,323,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CCK. Farther Finance Advisors LLC increased its stake in shares of Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 256 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after buying an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Crown by 20.0% during 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. Venturi Wealth Management LLC grew its stake in shares of Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 269 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Crown by 325.1% in the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 647 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors.

Crown Trading Down 0.0 %

Shares of CCK opened at $89.49 on Friday. The stock has a market capitalization of $10.47 billion, a PE ratio of 25.14, a P/E/G ratio of 1.56 and a beta of 0.79. The company’s fifty day moving average is $87.19 and its 200 day moving average is $88.25. 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 Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46.

Crown (NYSE:CCK) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share 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%. Sell-side analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 18th. This represents a $1.04 annualized dividend and a dividend yield of 1.16%. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is currently 29.21%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CCK. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Royal Bank of Canada increased their price target on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Citigroup boosted their price objective on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Mizuho cut their target price on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Truist Financial lowered their price target on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.42.

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.