Stevens Capital Management LP Makes New $310,000 Investment in Crown Holdings, Inc. (NYSE:CCK)

Stevens Capital Management LP acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,750 shares of the industrial products company’s stock, valued at approximately $310,000.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after buying an additional 256 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Crown in the third quarter worth $44,000. GAMMA Investing LLC raised its holdings in shares of Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares during the last quarter. True Wealth Design LLC lifted its position in Crown by 6,850.0% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 685 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Price Performance

Shares of Crown stock opened at $88.49 on Tuesday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The business has a 50 day simple moving average of $88.02 and a two-hundred day simple moving average of $89.50. The stock has a market capitalization of $10.40 billion, a P/E ratio of 24.86, a PEG ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46.

Crown (NYSE:CCK) last announced its quarterly earnings data 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 return on equity of 25.12% and a net margin of 3.59%. As a group, analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently announced 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. This represents a $1.04 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is 29.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CCK shares. Bank of America decreased their price objective on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley upgraded 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. Barclays cut their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a report on Monday, February 10th. UBS Group lowered their price target 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. Finally, Royal Bank of Canada upped their price objective on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. 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 an average rating of “Moderate Buy” and an average price target 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.