Allspring Global Investments Holdings LLC Purchases 63,458 Shares of Crown Holdings, Inc. (NYSE:CCK)

Allspring Global Investments Holdings LLC raised its position in Crown Holdings, Inc. (NYSE:CCK) by 28.5% in the 4th quarter, Holdings Channel reports. The firm owned 285,980 shares of the industrial products company’s stock after buying an additional 63,458 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Crown were worth $23,224,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CCK. GAMMA Investing LLC increased its position in shares of Crown by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 310 shares of the industrial products company’s stock valued at $30,000 after buying an additional 163 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Crown in the third quarter valued at about $766,000. Creative Planning increased its holdings in shares of Crown by 3.6% in the third quarter. Creative Planning now owns 45,835 shares of the industrial products company’s stock worth $4,395,000 after acquiring an additional 1,586 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Crown by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,444 shares of the industrial products company’s stock worth $2,056,000 after purchasing an additional 347 shares during the period. Finally, Claro Advisors LLC bought a new position in shares of Crown during the 3rd quarter valued at about $682,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Crown Stock Performance

Shares of CCK stock opened at $88.11 on Friday. The company has a fifty day moving average price of $85.21 and a two-hundred day moving average price of $89.40. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The stock has a market cap of $10.54 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.84.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Crown Holdings, Inc. will post 6.83 EPS for the current year.

Analyst Upgrades and Downgrades

CCK has been the topic of several research analyst reports. Royal Bank of Canada raised their target price on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. UBS Group dropped their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Citigroup increased their target price on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Barclays cut their price target on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, 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. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company 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.