Pullen Investment Management LLC Buys Shares of 5,709 Crown Holdings, Inc. (NYSE:CCK)

Pullen Investment Management LLC purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,709 shares of the industrial products company's stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company's stock worth $57,000 after buying an additional 117 shares during the last quarter. TD Private Client Wealth LLC increased its position in shares of Crown by 4.6% during the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company's stock valued at $237,000 after purchasing an additional 125 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Crown by 16.2% during the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company's stock valued at $82,000 after buying an additional 138 shares in the last quarter. Bessemer Group Inc. lifted its position in Crown by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company's stock worth $2,816,000 after buying an additional 138 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in Crown by 0.4% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company's stock worth $3,758,000 after buying an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Stock Up 1.5%

Shares of CCK stock traded up $1.49 during mid-day trading on Tuesday, reaching $98.53. 873,808 shares of the company's stock traded hands, compared to its average volume of 1,220,956. The company's 50-day moving average price is $90.99 and its 200-day moving average price is $88.70. The company has a market cap of $11.47 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.56 and a beta of 0.76. 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 Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $100.24.

Crown (NYSE:CCK - Get Free Report) last released 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 firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The business's revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.02 earnings per share. On average, equities analysts expect 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 will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.06%. Crown's payout ratio is presently 22.37%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their price objective on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company raised their price target on shares of Crown from $89.00 to $101.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Royal Bank of Canada upped their price objective on shares of Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Truist Financial cut their target price on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wall Street Zen raised Crown from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Crown currently has an average rating of "Moderate Buy" and a consensus target price of $110.45.

Insider Transactions at Crown

In other news, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the transaction, the chief operating officer now directly owns 135,014 shares of the company's stock, valued at $13,096,358. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 shares were 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 trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

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.