Oregon Public Employees Retirement Fund Has $1.99 Million Stake in Crown Holdings, Inc. (NYSE:CCK)

Oregon Public Employees Retirement Fund trimmed its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,090 shares of the industrial products company’s stock after selling 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Crown were worth $1,992,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 117 shares in the last quarter. Spire Wealth Management increased its stake in Crown by 16.2% in the fourth quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 138 shares in the last quarter. Marshall & Sullivan Inc. WA increased its stake in Crown by 0.3% in the fourth quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock valued at $4,735,000 after purchasing an additional 155 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Crown by 0.4% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company’s stock valued at $3,758,000 after purchasing an additional 165 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Crown by 2.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after purchasing an additional 183 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CCK. Mizuho lowered their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Citigroup increased their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their price objective on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Barclays lowered their price objective on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.69.

Crown Stock Up 1.9 %

Crown stock opened at $89.59 on Friday. The company has a market cap of $10.72 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. The company has a fifty day simple moving average of $85.52 and a 200 day simple moving average of $89.47. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK) last released its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Research analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid 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 1.16%. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) is currently 28.09%.

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.