Dynasty Wealth Management LLC Trims Stake in Crown Holdings, Inc. (NYSE:CCK)

Dynasty Wealth Management LLC trimmed its position in Crown Holdings, Inc. (NYSE:CCK) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,018 shares of the industrial products company’s stock after selling 487 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Crown were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. grew its position in shares of Crown by 10,138.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock worth $256,762,000 after buying an additional 3,074,791 shares in the last quarter. Metropolis Capital Ltd grew its holdings in 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 acquiring an additional 1,000,605 shares in the last quarter. Jennison Associates LLC grew its holdings in Crown by 125.0% during the 3rd quarter. Jennison Associates LLC now owns 1,352,711 shares of the industrial products company’s stock worth $129,698,000 after acquiring an additional 751,530 shares in the last quarter. FMR LLC grew its holdings in Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after acquiring an additional 749,085 shares in the last quarter. Finally, Swedbank AB boosted its stake in shares of Crown by 379.3% during the fourth quarter. Swedbank AB now owns 687,748 shares of the industrial products company’s stock valued at $56,870,000 after purchasing an additional 544,246 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Stock Up 1.9 %

CCK stock opened at $89.59 on Friday. The firm has a 50 day moving average of $85.52 and a 200 day moving average of $89.47. The stock has a market capitalization of $10.72 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. 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 quarterly earnings results 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%. Sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.16%. This is a boost from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s payout ratio is presently 28.09%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CCK shares. 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 research note on Friday, January 10th. Barclays dropped their target price on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Truist Financial raised their price objective on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Citigroup raised their price target on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.69.

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.