Forum Financial Management LP Takes Position in Crown Holdings, Inc. (NYSE:CCK)

Forum Financial Management LP purchased a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,953 shares of the industrial products company's stock, valued at approximately $244,000.

Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank boosted its position in Crown by 5.7% during the 4th quarter. Toronto Dominion Bank now owns 16,238 shares of the industrial products company's stock worth $1,343,000 after acquiring an additional 875 shares during the period. Public Employees Retirement System of Ohio boosted its position in Crown by 11.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 71,405 shares of the industrial products company's stock worth $5,904,000 after acquiring an additional 7,334 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Crown by 26.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 586,038 shares of the industrial products company's stock worth $48,459,000 after acquiring an additional 124,384 shares during the period. Worldquant Millennium Advisors LLC boosted its position in Crown by 216.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 335,902 shares of the industrial products company's stock worth $27,776,000 after acquiring an additional 229,705 shares during the period. Finally, Sone Capital Management LLC acquired a new stake in Crown during the 4th quarter worth about $5,444,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Insider Activity at Crown

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the company's stock in a transaction 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 sale, the vice president now directly owns 4,500 shares in the company, valued at $447,345. This represents a 32.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer now owns 135,014 shares in the company, valued at $13,096,358. This trade 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on Crown from $89.00 to $101.00 and gave the stock an "equal weight" 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 for the company in a research report on Tuesday, April 22nd. Royal Bank of Canada raised their price objective on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Wall Street Zen upgraded Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Finally, Barclays lifted their price target on Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $110.45.

Crown Stock Performance

Shares of CCK stock traded down $1.81 during trading hours on Monday, reaching $96.69. 726,281 shares of the company's stock were exchanged, compared to its average volume of 1,225,992. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $100.24. The stock has a market capitalization of $11.25 billion, a P/E ratio of 27.16, a P/E/G ratio of 1.56 and a beta of 0.76. The business has a fifty day moving average price of $91.78 and a 200-day moving average price of $88.84. The company has a quick ratio of 0.80, a current ratio of 1.22 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 EPS 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 return on equity of 25.12% and a net margin of 3.59%. Crown's revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 earnings per share. Analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.26 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.08%. Crown's payout ratio is 22.37%.

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.