Mercer Global Advisors Inc. ADV Has $1.31 Million Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Mercer Global Advisors Inc. ADV lowered its holdings in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 57.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,831 shares of the industrial products company's stock after selling 21,278 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Crown were worth $1,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCK. Pacer Advisors Inc. lifted its stake in Crown by 10,138.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company's stock valued at $256,762,000 after buying an additional 3,074,791 shares during the last quarter. Norges Bank acquired a new position in Crown during the fourth quarter worth $113,568,000. Metropolis Capital Ltd grew its holdings 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 purchasing an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Crown in the fourth quarter worth $66,732,000. Finally, Vulcan Value Partners LLC raised its holdings in Crown by 450.5% in the 4th quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company's stock valued at $68,027,000 after acquiring an additional 674,072 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CCK shares. Royal Bank of Canada increased their target price on shares of Crown from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Morgan Stanley raised shares of Crown from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Truist Financial cut 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. StockNews.com raised Crown from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Finally, UBS Group raised their price target on shares of Crown from $109.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Crown currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.45.

Insider Transactions at Crown

In other Crown 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 owns 135,014 shares of the company's stock, valued at approximately $13,096,358. This represents a 4.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by company insiders.

Crown Price Performance

CCK stock traded up $0.92 during trading on Monday, hitting $97.90. The company had a trading volume of 920,239 shares, compared to its average volume of 1,200,918. The company has a fifty day moving average price of $89.06 and a two-hundred day moving average price of $88.31. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $99.49. The company has a market cap of $11.39 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK - Get Free Report) last posted its 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. Crown had a net margin of 3.59% and a return on equity of 25.12%. The company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. Crown's quarterly revenue was up 3.7% compared to the same quarter last year. Equities research 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 announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 15th. Crown's dividend payout ratio is presently 22.37%.

About Crown

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.