Alberta Investment Management Corp Acquires New Shares in Crown Holdings, Inc. (NYSE:CCK)

Alberta Investment Management Corp acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, Holdings Channel.com reports. The firm acquired 39,402 shares of the industrial products company’s stock, valued at approximately $3,258,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Covestor Ltd raised its position in shares of Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the period. Brooklyn Investment Group acquired a new position in shares of Crown in the 3rd quarter valued at approximately $44,000. GAMMA Investing LLC increased its stake in Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Crown during the 3rd quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Crown in the third quarter valued at approximately $55,000. 90.93% of the stock is currently owned by institutional investors.

Crown Trading Up 0.3 %

NYSE CCK opened at $88.60 on Friday. The company has a market cap of $10.60 billion, a PE ratio of 24.89, a PEG ratio of 1.57 and a beta of 0.87. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The stock has a 50 day moving average of $85.26 and a 200-day moving average of $89.40. 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 (NYSE:CCK) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating 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 research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CCK shares. Citigroup increased their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Bank of America cut their price target on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Finally, Truist Financial boosted their target price on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.69.

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.