Pullen Investment Management LLC Increases Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Pullen Investment Management LLC lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 96.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,230 shares of the industrial products company's stock after buying an additional 5,521 shares during the period. Pullen Investment Management LLC's holdings in Crown were worth $1,002,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after purchasing an additional 117 shares during the last quarter. TD Private Client Wealth LLC boosted its position in Crown by 4.6% in the fourth quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company's stock worth $237,000 after purchasing an additional 125 shares during the last quarter. Bessemer Group Inc. boosted its position in Crown by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company's stock worth $2,816,000 after purchasing an additional 138 shares during the last quarter. Metis Global Partners LLC boosted its position in Crown by 3.8% in the fourth quarter. Metis Global Partners LLC now owns 5,349 shares of the industrial products company's stock worth $442,000 after purchasing an additional 194 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Crown by 2.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 9,372 shares of the industrial products company's stock worth $775,000 after purchasing an additional 200 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CCK shares. Barclays raised their target price on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Truist Financial decreased their price objective on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Mizuho raised their price objective on Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. UBS Group raised their price objective on Crown from $109.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded Crown from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and a consensus price target of $110.45.

Crown Price Performance

CCK traded down $1.63 on Friday, hitting $99.78. 803,937 shares of the company's stock traded hands, compared to its average volume of 1,233,598. The company's 50 day simple moving average is $94.11 and its 200-day simple moving average is $89.34. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $102.00. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

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

Crown Announces Dividend

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

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of Crown stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the sale, the chief operating officer now owns 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 legal filing with the SEC, which is available through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of Crown 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 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. Corporate insiders own 0.90% of the company's stock.

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.