Crown Holdings, Inc. (NYSE:CCK) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,300 shares of the industrial products company's stock after purchasing an additional 15,899 shares during the period. Ameriprise Financial Inc. owned about 0.21% of Crown worth $20,780,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CCK. Metropolis Capital Ltd grew its holdings 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 purchasing an additional 1,000,605 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Crown by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock worth $67,183,000 after acquiring an additional 8,739 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Crown during the 4th quarter valued at about $255,000. Washington Capital Management Inc. acquired a new position in shares of Crown during the 4th quarter worth approximately $604,000. Finally, Iridian Asset Management LLC CT lifted its holdings in Crown by 13.5% in the fourth quarter. Iridian Asset Management LLC CT now owns 222,292 shares of the industrial products company's stock valued at $18,381,000 after acquiring an additional 26,443 shares during the last quarter. Institutional investors own 90.93% of the company's stock.

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the transaction, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. The trade was a 4.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by company insiders.

Crown Price Performance

Shares of CCK traded down $0.16 during mid-day trading on Friday, reaching $99.42. 1,419,721 shares of the company's stock were exchanged, compared to its average volume of 1,213,662. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.56 and a beta of 0.76. 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 Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $100.17. The company has a 50-day simple moving average of $89.75 and a two-hundred day simple moving average of $88.43.

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

Crown Announces Dividend

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 $0.26 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a yield of 1.05%. Crown's dividend payout ratio is currently 22.37%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CCK. Truist Financial cut their price objective on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Mizuho boosted their target price on shares of Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Wells Fargo & Company boosted their target price on shares of Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. UBS Group upped their price objective on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, StockNews.com upgraded shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $110.45.

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.