Oak Thistle LLC Purchases 343 Shares of Crown Holdings, Inc. (NYSE:CCK)

Oak Thistle LLC raised its position in Crown Holdings, Inc. (NYSE:CCKFree Report) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,871 shares of the industrial products company’s stock after buying an additional 343 shares during the quarter. Oak Thistle LLC’s holdings in Crown were worth $633,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CCK. Fairfield Bush & CO. bought a new stake in shares of Crown in the first quarter valued at $143,000. US Bancorp DE raised its stake in shares of Crown by 9.6% during the 1st quarter. US Bancorp DE now owns 3,506 shares of the industrial products company’s stock valued at $439,000 after purchasing an additional 308 shares during the period. Cetera Advisor Networks LLC raised its stake in shares of Crown by 30.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 666 shares during the period. MetLife Investment Management LLC bought a new stake in shares of Crown during the 1st quarter valued at $392,000. Finally, Great West Life Assurance Co. Can raised its stake in shares of Crown by 43.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company’s stock valued at $8,318,000 after purchasing an additional 19,046 shares during the period. 90.93% of the stock is currently owned by institutional investors.

Crown Price Performance

CCK opened at $78.17 on Wednesday. The stock has a 50-day moving average price of $78.80 and a 200-day moving average price of $83.70. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.35. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $9.44 billion, a P/E ratio of 20.79, a PEG ratio of 2.68 and a beta of 0.91.

Crown (NYSE:CCKGet Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). Crown had a return on equity of 25.75% and a net margin of 3.75%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. Crown’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts predict that Crown Holdings, Inc. will post 5.92 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.25 dividend. This is a boost from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Wednesday, March 13th. Crown’s dividend payout ratio is presently 26.60%.

Insider Activity at Crown

In related news, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $90.96, for a total transaction of $682,200.00. Following the transaction, the chief executive officer now directly owns 651,264 shares in the company, valued at approximately $59,238,973.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CCK has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on Crown in a research note on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective on the stock. UBS Group initiated coverage on Crown in a research note on Tuesday, January 16th. They set a “buy” rating and a $112.00 price objective on the stock. Wells Fargo & Company decreased their price objective on Crown from $93.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Mizuho reduced their target price on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Finally, Truist Financial restated a “hold” rating and set a $88.00 target price (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.36.

Check Out Our Latest Research Report on CCK

Crown Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crown (NYSE:CCK)

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