John G Ullman & Associates Inc. Reduces Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

John G Ullman & Associates Inc. decreased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,339 shares of the industrial products company’s stock after selling 400 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Crown were worth $2,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares during the period. Brooklyn Investment Group purchased a new position in Crown during the third quarter valued at $44,000. GAMMA Investing LLC lifted its position in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after buying an additional 261 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Crown during the third quarter valued at $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Crown during the third quarter valued at $55,000. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Trading Up 1.9 %

Crown stock opened at $89.59 on Friday. The business has a 50-day simple moving average of $85.65 and a two-hundred day simple moving average of $89.50. The company has a market cap of $10.72 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.56 and a beta of 0.87. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46. 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 (NYSE:CCK) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have commented on CCK. Citigroup raised their price objective on Crown from $110.00 to $111.00 and gave the company a “buy” 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. Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Royal Bank of Canada raised their price target on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Truist Financial raised their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

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.