Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its holdings in Crown Holdings, Inc. (NYSE:CCK) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,421,951 shares of the industrial products company’s stock after selling 200,328 shares during the quarter. Clearbridge Investments LLC owned 1.19% of Crown worth $117,581,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Crown by 10,138.8% in the 4th 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 in the last quarter. Norges Bank purchased a new position in shares of Crown in the fourth quarter valued at $113,568,000. Metropolis Capital Ltd raised its stake in shares of Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after buying an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Crown in the 4th quarter worth about $66,732,000. Finally, Swedbank AB grew its stake in Crown by 379.3% in the 4th quarter. Swedbank AB now owns 687,748 shares of the industrial products company’s stock valued at $56,870,000 after acquiring an additional 544,246 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCK has been the subject of a number of recent research reports. Mizuho lowered their price target on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company increased their price target on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Truist Financial upped 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. Finally, UBS Group decreased 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Stock Down 1.8 %

CCK opened at $88.19 on Monday. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The firm has a 50 day moving average price of $88.32 and a 200 day moving average price of $89.45. 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 company has a market cap of $10.31 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 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 $0.26 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) is 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.