Nomura Asset Management Co. Ltd. Decreases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Nomura Asset Management Co. Ltd. lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,057 shares of the industrial products company’s stock after selling 410 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Crown were worth $2,982,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in 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 purchasing an additional 3,074,791 shares during the last quarter. Norges Bank acquired a new stake in shares of Crown during the fourth quarter worth $113,568,000. Metropolis Capital Ltd grew its holdings in shares of Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after buying an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Crown in the 4th quarter valued at $66,732,000. Finally, Swedbank AB raised its stake in Crown by 379.3% in the 4th quarter. Swedbank AB now owns 687,748 shares of the industrial products company’s stock worth $56,870,000 after acquiring an additional 544,246 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CCK shares. Barclays reduced their price objective on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada lifted their price objective on shares of Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Bank of America cut their price objective 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 upped their price target on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Finally, Mizuho reduced their price objective on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crown Stock Performance

NYSE CCK opened at $90.29 on Thursday. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.56 and a beta of 0.88. The stock has a 50-day moving average of $88.53 and a 200 day moving average of $89.44. 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 Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46.

Crown (NYSE:CCK) last announced its 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%. Sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is currently 29.21%.

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.