Algert Global LLC Boosts Stake in Crown Holdings, Inc. (NYSE:CCK)

Algert Global LLC grew its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 583.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,359 shares of the industrial products company's stock after acquiring an additional 28,480 shares during the quarter. Algert Global LLC's holdings in Crown were worth $2,758,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. raised 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 valued at $256,762,000 after purchasing an additional 3,074,791 shares during the last quarter. Norges Bank purchased a new stake in shares of Crown in the 4th quarter worth about $113,568,000. Metropolis Capital Ltd raised its stake in 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 purchased a new stake in Crown during the 4th quarter valued at about $66,732,000. Finally, Vulcan Value Partners LLC grew its holdings in shares of Crown by 450.5% during the fourth quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company's stock valued at $68,027,000 after buying an additional 674,072 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Price Performance

Shares of Crown stock traded up $0.22 during trading on Tuesday, reaching $98.00. 138,689 shares of the stock traded hands, compared to its average volume of 1,196,719. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $99.44. 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 fifty day simple moving average of $89.06 and a two-hundred day simple moving average of $88.31. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last posted its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.45. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 EPS. Sell-side analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.04 annualized dividend and a yield of 1.06%. Crown's payout ratio is currently 22.37%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CCK shares. Morgan Stanley raised Crown from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $109.00 to $105.00 in a report on Monday, January 13th. Wells Fargo & Company upped their target price on shares of Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Truist Financial reduced their price target on shares of Crown from $107.00 to $97.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. UBS Group increased their price objective on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Royal Bank of Canada lifted their target price on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Crown has an average rating of "Moderate Buy" and an average target price of $110.45.

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the sale, the chief operating officer now directly owns 135,014 shares of the company's stock, valued at approximately $13,096,358. This represents a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.90% of the company's stock.

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.