7,986 Shares in Crown Holdings, Inc. (NYSE:CCK) Bought by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,986 shares of the industrial products company’s stock, valued at approximately $660,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Crown by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,088 shares of the industrial products company’s stock valued at $1,661,000 after acquiring an additional 256 shares during the last quarter. Community Trust & Investment Co. raised its position in Crown by 2.5% during the 4th quarter. Community Trust & Investment Co. now owns 99,550 shares of the industrial products company’s stock valued at $8,232,000 after purchasing an additional 2,405 shares during the last quarter. Gateway Investment Advisers LLC raised its position in Crown by 2.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 34,521 shares of the industrial products company’s stock valued at $2,855,000 after purchasing an additional 768 shares during the last quarter. Avanza Fonder AB purchased a new stake in Crown in the 4th quarter worth approximately $970,000. Finally, Merit Financial Group LLC bought a new stake in shares of Crown in the 4th quarter worth approximately $255,000. 90.93% of the stock is owned by institutional investors.

Crown Stock Up 2.4%

CCK stock opened at $99.78 on Thursday. The business has a 50 day moving average of $89.38 and a 200 day moving average of $88.45. The firm has a market cap of $11.61 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $100.17. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.45. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. On average, research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.04%. Crown’s dividend payout ratio is presently 22.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CCK shares. Truist Financial decreased their target price on Crown from $107.00 to $97.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Mizuho boosted their price target on shares of Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Wells Fargo & Company raised their price objective on shares of Crown from $89.00 to $101.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Finally, Royal Bank of Canada upped their target price on Crown from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.45.

Insider Activity

In other news, COO Gerard H. Gifford sold 7,000 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the transaction, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at $13,096,358. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

About Crown

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.