Crown Holdings, Inc. (NYSE:CCK) to Issue $0.26 Quarterly Dividend

Crown Holdings, Inc. (NYSE:CCK - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Thursday, August 7th will be paid a dividend of 0.26 per share by the industrial products company on Thursday, August 21st. This represents a $1.04 dividend on an annualized basis and a yield of 1.00%.

Crown has a payout ratio of 13.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Crown to earn $7.62 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 13.6%.

Crown Trading Down 1.1%

NYSE:CCK traded down $1.18 on Thursday, reaching $104.16. 1,896,431 shares of the stock traded hands, compared to its average volume of 1,305,066. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.71 and a beta of 0.76. The company's 50 day moving average is $102.46 and its 200-day moving average is $93.05. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 1.67. Crown has a 1-year low of $75.98 and a 1-year high of $109.48.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The industrial products company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.86 by $0.29. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. Crown had a net margin of 4.64% and a return on equity of 27.15%. The company's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 EPS. Equities research analysts anticipate that Crown will post 6.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on CCK. Barclays raised their price objective on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Mizuho raised their price objective on Crown from $110.00 to $127.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. UBS Group raised their price objective on Crown from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday. Morgan Stanley lifted their target price on Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Finally, Baird R W cut Crown from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Four 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, Crown currently has a consensus rating of "Moderate Buy" and an average price target of $120.67.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the transaction, the chief operating officer owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the sale, the vice president owned 4,500 shares of the company's stock, valued at $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 owned by insiders.

Hedge Funds Weigh In On Crown

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its holdings in Crown by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 356 shares of the industrial products company's stock worth $32,000 after purchasing an additional 111 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Crown during the first quarter valued at $111,000. Integrated Wealth Concepts LLC increased its holdings in shares of Crown by 39.4% during the first quarter. Integrated Wealth Concepts LLC now owns 4,109 shares of the industrial products company's stock valued at $367,000 after acquiring an additional 1,161 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Crown by 6.3% during the first quarter. NewEdge Advisors LLC now owns 5,917 shares of the industrial products company's stock valued at $528,000 after acquiring an additional 351 shares in the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Crown by 30.8% during the first quarter. Focus Partners Wealth now owns 15,062 shares of the industrial products company's stock valued at $1,344,000 after acquiring an additional 3,550 shares in the last quarter. Institutional investors own 90.93% of the company's stock.

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.

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