Graham Capital Management L.P. Increases Holdings in Crown Holdings, Inc. (NYSE:CCK)

Graham Capital Management L.P. raised its holdings in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 64.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,749 shares of the industrial products company's stock after purchasing an additional 18,342 shares during the period. Graham Capital Management L.P.'s holdings in Crown were worth $3,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock worth $34,000 after buying an additional 256 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company's stock worth $47,000 after acquiring an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $57,000 after purchasing an additional 117 shares during the period. Colonial Trust Co SC boosted its position in shares of Crown by 88.0% during the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 352 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Crown by 48.6% in the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company's stock worth $68,000 after purchasing an additional 269 shares during the period. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Price Performance

CCK opened at $97.14 on Friday. The company's 50-day simple moving average is $88.87 and its two-hundred day simple moving average is $88.33. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The stock has a market capitalization of $11.36 billion, a P/E ratio of 27.29, a P/E/G 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 $98.48.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.45. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm earned $1.02 earnings per share. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, May 15th. Crown's dividend payout ratio is 22.37%.

Insiders Place Their Bets

In other news, COO Gerard H. Gifford sold 7,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 135,014 shares in the company, 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 at this link. Insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CCK shares. Barclays boosted their target price on shares of Crown from $109.00 to $117.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Truist Financial dropped their price objective on shares of Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com raised shares of Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Royal Bank of Canada boosted their price target on Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley raised Crown from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $110.45.

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.

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