Hillsdale Investment Management Inc. Purchases New Position in Crown Holdings, Inc. (NYSE:CCK)

Hillsdale Investment Management Inc. purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,380 shares of the industrial products company’s stock, valued at approximately $693,000.

Several other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its position in Crown by 9.3% during the third quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after acquiring an additional 749,085 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Crown by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after purchasing an additional 102,789 shares during the period. State Street Corp grew its holdings in Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after purchasing an additional 69,260 shares during the period. Pacer Advisors Inc. grew its holdings in Crown by 10,138.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after purchasing an additional 3,074,791 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Crown by 10.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock valued at $245,408,000 after purchasing an additional 283,014 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Stock Performance

Shares of Crown stock opened at $87.39 on Monday. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 24.55, a PEG 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. The business’s 50 day moving average price is $87.90 and its 200 day moving average price is $89.51.

Crown (NYSE:CCK) last announced 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 return on equity of 25.12% and a net margin of 3.59%. On average, research analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.19%. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is currently 29.21%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CCK. UBS Group dropped their price objective on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barclays dropped their price objective on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Bank of America dropped their price objective on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company raised their price objective on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

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.