Entropy Technologies LP lifted its stake in Crown Holdings, Inc. (NYSE:CCK – Free Report) by 205.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,476 shares of the industrial products company’s stock after buying an additional 66,862 shares during the period. Entropy Technologies LP’s holdings in Crown were worth $9,972,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Crown during the fourth quarter valued at approximately $158,288,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Crown during the 4th quarter worth $127,230,000. AQR Capital Management LLC increased its stake in Crown by 36.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,467,550 shares of the industrial products company’s stock worth $333,197,000 after buying an additional 933,938 shares during the period. Invesco Ltd. lifted its holdings in Crown by 33.6% in the 4th quarter. Invesco Ltd. now owns 3,526,983 shares of the industrial products company’s stock worth $363,173,000 after buying an additional 886,471 shares in the last quarter. Finally, LSV Asset Management boosted its position in Crown by 542.2% in the 4th quarter. LSV Asset Management now owns 858,275 shares of the industrial products company’s stock valued at $88,377,000 after buying an additional 724,620 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.
Crown Stock Performance
Shares of CCK stock opened at $117.88 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.70 and a current ratio of 1.05. Crown Holdings, Inc. has a one year low of $89.21 and a one year high of $121.76. The company’s 50-day simple moving average is $104.60 and its 200-day simple moving average is $105.16. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.69 and a beta of 0.60.
Crown Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 6th. Crown’s payout ratio is 20.14%.
Insider Buying and Selling at Crown
In related news, CEO Timothy J. Donahue sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $105.00, for a total transaction of $1,575,000.00. Following the sale, the chief executive officer directly owned 436,070 shares of the company’s stock, valued at approximately $45,787,350. This represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.90% of the company’s stock.
Trending Headlines about Crown
Here are the key news stories impacting Crown this week:
- Positive Sentiment: Royal Bank of Canada raised its price target on Crown Holdings to $135 from $131 and reiterated an outperform rating, suggesting meaningful upside from current levels. Benzinga report
- Positive Sentiment: Crown Holdings declared a quarterly dividend of $0.35 per share, which can appeal to income-focused investors and signals continued shareholder returns. Press release
- Positive Sentiment: Several analysts remained constructive after the earnings beat, including Truist reaffirming Buy and Wells Fargo lifting its price target to $127, which adds to the bullish tone around the stock. Article
- Neutral Sentiment: UBS reportedly kept a Hold rating, indicating some analysts see the shares as fairly valued after the recent rally. UBS Hold report
- Negative Sentiment: J.P. Morgan reportedly downgraded Crown to Neutral after the strong run-up, which may reflect concerns that much of the good news is already priced in. Seeking Alpha report
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Crown from $117.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered Crown from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $107.00 to $121.00 in a research note on Wednesday. UBS Group upped their target price on Crown from $115.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America increased their target price on Crown from $129.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada raised their price target on shares of Crown from $131.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Crown has an average rating of “Moderate Buy” and an average target price of $128.20.
Check Out Our Latest Analysis on CCK
Crown Company Profile
Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.
Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.
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