Man Group plc Grows Position in Crown Holdings, Inc. (NYSE:CCK)

Man Group plc increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 45.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 390,505 shares of the industrial products company's stock after purchasing an additional 122,084 shares during the period. Man Group plc owned 0.33% of Crown worth $32,291,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CCK. Metropolis Capital Ltd lifted its holdings in Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock worth $203,116,000 after purchasing an additional 1,000,605 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Crown by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company's stock valued at $67,183,000 after purchasing an additional 8,739 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Crown during the fourth quarter worth $255,000. Washington Capital Management Inc. acquired a new stake in shares of Crown during the fourth quarter valued at about $604,000. Finally, Iridian Asset Management LLC CT boosted its position in Crown by 13.5% during the 4th quarter. Iridian Asset Management LLC CT now owns 222,292 shares of the industrial products company's stock worth $18,381,000 after buying an additional 26,443 shares during the period. Institutional investors and hedge funds own 90.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CCK shares. Mizuho upped their price target on Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. UBS Group lifted their price objective on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Truist Financial decreased their price target on Crown from $107.00 to $97.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, Barclays increased their price objective on shares of Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.45.

Crown Stock Performance

CCK traded down $0.72 during trading on Wednesday, hitting $98.32. The company's stock had a trading volume of 193,899 shares, compared to its average volume of 1,212,003. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $100.24. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The firm has a market cap of $11.44 billion, a PE ratio of 27.61, a P/E/G ratio of 1.56 and a beta of 0.76. The business's 50 day simple moving average is $90.22 and its 200-day simple moving average is $88.55.

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

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.06%. Crown's dividend payout ratio (DPR) is presently 22.37%.

Insider Buying and Selling at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction that occurred on 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 owns 135,014 shares of the company's stock, valued at approximately $13,096,358. The trade was a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christy L. Kalaus sold 2,130 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $99.41, for a total value of $211,743.30. Following the sale, the vice president now directly owns 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

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.