44 Wealth Management LLC Invests $441,000 in Crown Holdings, Inc. (NYSE:CCK)

44 Wealth Management LLC purchased a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 4,940 shares of the industrial products company's stock, valued at approximately $441,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CCK. Charles Schwab Investment Management Inc. raised its holdings in 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 buying an additional 8,739 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Crown during the first quarter worth approximately $820,000. State of Alaska Department of Revenue increased its holdings in Crown by 1.6% during the 1st quarter. State of Alaska Department of Revenue now owns 13,695 shares of the industrial products company's stock worth $1,222,000 after purchasing an additional 215 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Crown by 588.0% in the 4th quarter. NewEdge Advisors LLC now owns 5,566 shares of the industrial products company's stock worth $460,000 after buying an additional 4,757 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Crown during the 4th quarter worth $8,466,000. Institutional investors own 90.93% of the company's stock.

Crown Stock Performance

Shares of Crown stock traded up $0.10 on Monday, reaching $108.00. 376,619 shares of the stock were exchanged, compared to its average volume of 1,239,647. Crown Holdings, Inc. has a twelve month low of $71.62 and a twelve month high of $108.64. The business has a 50 day moving average price of $99.90 and a two-hundred day moving average price of $91.02. The company has a quick ratio of 0.56, a current ratio of 0.87 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.86 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. Crown had a net margin of 4.62% and a return on equity of 26.98%. The firm'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 earnings per share. Analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, May 15th. Crown's payout ratio is presently 22.37%.

Insider Activity 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 transaction, the chief operating officer directly owned 135,014 shares of the company's stock, valued at $13,096,358. The trade was a 4.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $99.41, for a total transaction of $211,743.30. Following the sale, the vice president directly owned 4,500 shares in the company, valued at $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CCK shares. Royal Bank Of Canada upped their price objective on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Truist Financial dropped their price objective on shares of Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company upped their target price on Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Citigroup upped their price objective on Crown from $119.00 to $129.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, UBS Group boosted their target price on shares of Crown from $109.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $113.27.

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.