Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 39.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 328,526 shares of the industrial products company’s stock after selling 214,025 shares during the quarter. Legal & General Group Plc owned 0.27% of Crown worth $27,166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCK. Farther Finance Advisors LLC increased its position in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 256 shares during the last quarter. GAMMA Investing LLC lifted its stake in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after buying an additional 117 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Crown by 48.6% in the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after buying an additional 269 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Crown by 325.1% in the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock valued at $70,000 after buying an additional 647 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Trading Up 2.1 %

Shares of Crown stock opened at $83.75 on Monday. The company’s fifty day moving average is $87.53 and its two-hundred day moving average is $88.71. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The company has a market capitalization of $9.80 billion, a P/E ratio of 23.53, a PEG ratio of 1.56 and a beta of 0.79.

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

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.24%. Crown’s dividend payout ratio (DPR) is currently 29.21%.

Analysts Set New Price Targets

Several research firms have commented on CCK. Mizuho dropped their price target 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. Royal Bank of Canada upped their price objective on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Bank of America cut their target price on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group lowered their price target on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.