Crown Holdings, Inc. (NYSE:CCK) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 26.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 586,038 shares of the industrial products company's stock after purchasing an additional 124,384 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.49% of Crown worth $48,459,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake 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 valued at $57,000 after buying an additional 117 shares during the last quarter. TD Private Client Wealth LLC raised its stake 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 valued at $237,000 after buying an additional 125 shares during the last quarter. Spire Wealth Management raised its stake in Crown by 16.2% in the fourth 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 during the last quarter. Bessemer Group Inc. raised its stake in Crown by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company's stock valued at $2,816,000 after buying an additional 138 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised 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 valued at $3,758,000 after buying an additional 165 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Truist Financial lowered their price target on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Barclays lifted their price objective on Crown from $109.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Royal Bank of Canada lifted 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. Finally, Mizuho lifted their price objective on Crown from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $110.45.

Crown Stock Down 0.5%

NYSE CCK traded down $0.46 during trading hours on Friday, hitting $98.05. 160,810 shares of the company were exchanged, compared to its average volume of 1,218,775. The company has a 50 day moving average of $91.40 and a two-hundred day moving average of $88.79. 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 52-week low of $70.84 and a 52-week high of $100.24. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping 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%. Crown's revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 EPS. Equities research analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 1.06%. Crown's dividend payout ratio is currently 22.37%.

Insider Transactions at Crown

In related news, COO Gerard H. Gifford sold 7,000 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was 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 directly owns 135,014 shares of the company's stock, valued at $13,096,358. This represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christy L. Kalaus sold 2,130 shares of the company's stock in a transaction dated Friday, May 16th. The shares were 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 of the company's stock, valued at approximately $447,345. This trade represents a 32.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Crown Company 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.