Atria Wealth Solutions Inc. Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Atria Wealth Solutions Inc. acquired a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,388 shares of the industrial products company's stock, valued at approximately $482,000.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Crown by 47.6% during the first quarter. Larson Financial Group LLC now owns 332 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 107 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Crown by 161.2% during the first quarter. Signaturefd LLC now owns 397 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 245 shares during the last quarter. Colonial Trust Co SC lifted its holdings in shares of Crown by 88.0% during the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 352 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Crown by 33.8% during the first quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 205 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Crown during the fourth quarter valued at $91,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Stock Performance

NYSE:CCK traded down $0.53 during mid-day trading on Friday, hitting $100.55. 824,207 shares of the company's stock traded hands, compared to its average volume of 1,382,645. The firm has a 50 day moving average of $103.26 and a two-hundred day moving average of $95.01. Crown Holdings, Inc. has a 12 month low of $75.98 and a 12 month high of $109.48. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67.

Crown (NYSE:CCK - Get Free Report) last announced its earnings results on Monday, July 21st. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.29. Crown had a return on equity of 27.15% and a net margin of 4.64%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the company earned $1.81 EPS. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, August 7th. This represents a $1.04 annualized dividend and a yield of 1.0%. Crown's dividend payout ratio is presently 21.85%.

Insiders Place Their Bets

In related news, CAO Gerard H. Gifford sold 8,222 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $102.93, for a total transaction of $846,290.46. Following the completion of the sale, the chief accounting officer owned 122,585 shares in the company, valued at $12,617,674.05. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on CCK shares. JPMorgan Chase & Co. upped their target price on Crown from $108.00 to $112.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their price target on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Truist Financial reissued a "hold" rating and set a $118.00 price target (up from $117.00) on shares of Crown in a research report on Wednesday, July 23rd. Wall Street Zen raised Crown from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, Wells Fargo & Company upped their price target on Crown from $101.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Crown currently has an average rating of "Moderate Buy" and a consensus price target of $120.67.

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.