Crown Holdings, Inc. (NYSE:CCK) is Iridian Asset Management LLC CT's 10th Largest Position

Iridian Asset Management LLC CT decreased its stake in shares of Crown Holdings, Inc. (NYSE:CCK - Free Report) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 188,981 shares of the industrial products company's stock after selling 44,255 shares during the period. Crown accounts for 3.2% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 10th biggest position. Iridian Asset Management LLC CT owned approximately 0.16% of Crown worth $17,403,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Equitable Holdings Inc. grew its position in shares of Crown by 4.5% in the second quarter. Equitable Holdings Inc. now owns 2,681 shares of the industrial products company's stock valued at $233,000 after purchasing an additional 116 shares during the period. DB Fitzpatrick & Co Inc grew its position in Crown by 0.9% during the third quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company's stock valued at $1,439,000 after acquiring an additional 142 shares during the period. DekaBank Deutsche Girozentrale grew its position in Crown by 1.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 13,715 shares of the industrial products company's stock valued at $1,205,000 after acquiring an additional 180 shares during the period. Treasurer of the State of North Carolina grew its position in Crown by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 48,116 shares of the industrial products company's stock valued at $4,257,000 after acquiring an additional 180 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in Crown by 2.7% during the third quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company's stock valued at $611,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Stock Down 1.3 %

Crown stock traded down $1.08 during midday trading on Wednesday, hitting $79.48. The stock had a trading volume of 961,662 shares, compared to its average volume of 1,225,386. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The stock has a market cap of $9.60 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.60 and a beta of 0.91. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.35. The business has a fifty day moving average price of $77.36 and a 200 day moving average price of $83.27.

Crown (NYSE:CCK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.19). The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.96 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. Research analysts predict that Crown Holdings, Inc. will post 5.91 EPS for the current year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Crown's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 13th. Crown's dividend payout ratio is presently 26.60%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised Crown from a "neutral" rating to an "overweight" rating and set a $85.00 price target for the company in a research report on Wednesday, February 7th. UBS Group initiated coverage on Crown in a research note on Tuesday, January 16th. They set a "buy" rating and a $112.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Crown from $93.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 7th. Royal Bank of Canada reduced their price objective on Crown from $110.00 to $97.00 and set an "outperform" rating on the stock in a research note on Thursday, February 8th. Finally, Morgan Stanley initiated coverage on Crown in a research note on Monday, March 18th. They set an "equal weight" rating and a $87.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $99.36.

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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