Quantbot Technologies LP Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Quantbot Technologies LP purchased a new position in Crown Holdings, Inc. (NYSE:CCK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,124 shares of the industrial products company’s stock, valued at approximately $1,085,000.

Other hedge funds also recently modified their holdings of the company. Tidal Investments LLC increased its stake in Crown by 121.3% during the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after purchasing an additional 12,058 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Crown by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock worth $90,511,000 after acquiring an additional 176,959 shares in the last quarter. Metropolis Capital Ltd raised its holdings in shares of Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after acquiring an additional 1,000,605 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Crown by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company’s stock worth $67,183,000 after acquiring an additional 8,739 shares during the period. Finally, Virtu Financial LLC bought a new stake in Crown in the 3rd quarter valued at $861,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

CCK has been the topic of several recent research reports. UBS Group dropped their price target on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Citigroup lifted their target price on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Truist Financial lifted their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Trading Down 1.5 %

Shares of NYSE:CCK opened at $87.10 on Wednesday. The company has a 50-day simple moving average of $88.02 and a 200 day simple moving average of $89.50. The company has a market capitalization of $10.24 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. 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 52-week low of $70.84 and a 52-week high of $98.46.

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

Crown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Tuesday, March 18th. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) 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.