Two Sigma Advisers LP Buys 16,500 Shares of Crown Holdings, Inc. (NYSE:CCK)

Two Sigma Advisers LP lifted its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 37.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,100 shares of the industrial products company's stock after purchasing an additional 16,500 shares during the quarter. Two Sigma Advisers LP owned 0.05% of Crown worth $5,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Tidal Investments LLC grew its holdings in shares of Crown by 157.7% during the fourth quarter. Tidal Investments LLC now owns 56,696 shares of the industrial products company's stock worth $4,688,000 after purchasing an additional 34,699 shares in the last quarter. State of Wyoming lifted its position in Crown by 160.1% in the 4th quarter. State of Wyoming now owns 1,995 shares of the industrial products company's stock worth $165,000 after buying an additional 1,228 shares during the last quarter. Toronto Dominion Bank lifted its position in Crown by 5.7% in the 4th quarter. Toronto Dominion Bank now owns 16,238 shares of the industrial products company's stock worth $1,343,000 after buying an additional 875 shares during the last quarter. Snowden Capital Advisors LLC lifted its position in Crown by 10.8% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,499 shares of the industrial products company's stock worth $207,000 after buying an additional 244 shares during the last quarter. Finally, Seven Six Capital Management LLC bought a new stake in Crown in the 4th quarter worth approximately $5,942,000. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Stock Up 1.5%

Shares of NYSE CCK traded up $1.49 during trading on Tuesday, reaching $98.53. The company had a trading volume of 873,808 shares, compared to its average volume of 1,220,956. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $100.24. The stock has a market cap of $11.47 billion, a PE ratio of 27.68, a P/E/G ratio of 1.56 and a beta of 0.76. The business's 50-day moving average is $90.99 and its 200 day moving average is $88.70. 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 announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. The firm 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 company's quarterly 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. As a group, 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 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, May 15th. Crown's payout ratio is currently 22.37%.

Insiders Place Their Bets

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the transaction, the vice president now owns 4,500 shares of the company's stock, valued at approximately $447,345. This represents a 32.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 135,014 shares in the company, valued at approximately $13,096,358. This represents a 4.93% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

CCK has been the subject of a number of recent research reports. Wall Street Zen upgraded Crown from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Barclays boosted 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. UBS Group boosted their price objective on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Mizuho boosted their price objective on Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Finally, Truist Financial lowered 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. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $110.45.

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.