Xponance Inc. Increases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Xponance Inc. boosted its stake in Crown Holdings, Inc. (NYSE:CCK) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,432 shares of the industrial products company’s stock after purchasing an additional 1,974 shares during the quarter. Xponance Inc.’s holdings in Crown were worth $1,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CCK. Intech Investment Management LLC raised its stake in shares of Crown by 13.1% during the fourth quarter. Intech Investment Management LLC now owns 7,655 shares of the industrial products company’s stock worth $633,000 after acquiring an additional 886 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Crown during the fourth quarter worth approximately $3,388,000. LBP AM SA raised its stake in shares of Crown by 52.0% during the fourth quarter. LBP AM SA now owns 55,481 shares of the industrial products company’s stock worth $4,588,000 after acquiring an additional 18,992 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Crown during the fourth quarter worth approximately $66,732,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Crown by 100.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 59,562 shares of the industrial products company’s stock worth $4,878,000 after acquiring an additional 29,800 shares in the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. UBS Group decreased their price target 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. Bank of America decreased their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Truist Financial lifted their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Finally, Mizuho decreased their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Stock Performance

NYSE:CCK opened at $87.39 on Friday. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The stock has a market cap of $10.27 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The firm’s fifty day simple moving average is $87.90 and its 200 day simple moving average is $89.52.

Crown (NYSE:CCK) last announced its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.26 dividend. This is a boost from Crown’s previous quarterly dividend of $0.25. 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 1.19%. Crown’s payout ratio is presently 29.21%.

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.