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

44 Wealth Management LLC purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,940 shares of the industrial products company's stock, valued at approximately $441,000.

A number of other hedge funds also recently bought and sold shares of CCK. Proficio Capital Partners LLC purchased a new position in Crown during the 4th quarter valued at about $1,884,000. US Bancorp DE boosted its position in Crown by 41.5% during the 4th quarter. US Bancorp DE now owns 3,039 shares of the industrial products company's stock valued at $251,000 after acquiring an additional 891 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Crown by 325.1% during the 4th quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 647 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 8,739 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Crown in the 4th quarter worth approximately $547,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CCK shares. Citigroup boosted their price target on Crown from $119.00 to $129.00 and gave the stock a "buy" rating in a research report on Thursday. Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 28th. Morgan Stanley boosted their price target on Crown from $114.00 to $118.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Wells Fargo & Company boosted their price target on Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Finally, UBS Group boosted their price target on Crown from $109.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $113.27.

Crown Stock Up 0.9%

NYSE CCK traded up $0.99 during mid-day trading on Friday, reaching $107.90. The stock had a trading volume of 630,682 shares, compared to its average volume of 1,243,030. Crown Holdings, Inc. has a 1 year low of $71.62 and a 1 year high of $108.05. The stock has a market cap of $12.56 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76. The company has a fifty day moving average price of $99.90 and a 200 day moving average price of $91.02. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.56.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. Crown had a net margin of 4.62% and a return on equity of 26.98%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 EPS. On average, research analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

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

Insiders Place Their Bets

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the completion of the sale, the vice president directly owned 4,500 shares in the company, valued at approximately $447,345. The trade was a 32.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $679,000.00. Following the sale, the chief operating officer owned 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 disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

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.