Siemens Fonds Invest GmbH Invests $713,000 in Crown Holdings, Inc. (NYSE:CCK)

Siemens Fonds Invest GmbH bought 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,622 shares of the industrial products company's stock, valued at approximately $713,000.

Several other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock worth $256,762,000 after purchasing an additional 3,074,791 shares in the last quarter. Norges Bank acquired a new position in Crown during the 4th quarter valued at about $113,568,000. Metropolis Capital Ltd raised its stake in Crown by 68.7% in the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company's stock valued at $203,116,000 after buying an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Crown in the fourth quarter worth about $66,732,000. Finally, Vulcan Value Partners LLC boosted its holdings in Crown by 450.5% in the fourth quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company's stock worth $68,027,000 after acquiring an additional 674,072 shares in the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Mizuho lifted their target price on shares of Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Barclays lifted their price objective on shares of Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Wells Fargo & Company upped their target price on Crown from $89.00 to $101.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Truist Financial lowered their price target on Crown from $107.00 to $97.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group increased their price objective on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Crown has a consensus rating of "Moderate Buy" and a consensus price target of $110.45.

Crown Stock Down 0.2%

Shares of CCK opened at $99.42 on Friday. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 1.56 and a beta of 0.76. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $100.17. The stock's 50-day moving average price is $89.75 and its 200-day moving average price is $88.47. 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 released its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.22 by $0.45. The business had revenue of $2.89 billion for 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%. The business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. On average, sell-side analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, May 15th. Crown's payout ratio is currently 22.37%.

Insider Activity

In other news, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction that occurred 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 owns 135,014 shares in the company, valued at $13,096,358. This trade represents a 4.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.