International Assets Investment Management LLC Takes $1.93 Million Position in Crown Holdings, Inc. (NYSE:CCK)

International Assets Investment Management LLC bought a new position in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 20,904 shares of the industrial products company's stock, valued at approximately $1,925,000.

A number of other hedge funds have also bought and sold shares of CCK. BluePath Capital Management LLC purchased a new stake in shares of Crown during the 3rd quarter valued at about $25,000. Sound Income Strategies LLC purchased a new stake in Crown in the 4th quarter worth approximately $26,000. Quarry LP bought a new position in Crown in the 1st quarter worth approximately $58,000. UniSuper Management Pty Ltd bought a new position in Crown in the 2nd quarter worth approximately $78,000. Finally, TFC Financial Management Inc. boosted its stake in Crown by 23,000.0% in the 3rd quarter. TFC Financial Management Inc. now owns 924 shares of the industrial products company's stock worth $82,000 after purchasing an additional 920 shares during the period. Hedge funds and other institutional investors own 90.93% of the company's stock.

Crown Stock Up 1.0 %

NYSE CCK traded up $0.75 during trading on Friday, hitting $77.67. The company's stock had a trading volume of 1,084,330 shares, compared to its average volume of 867,815. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. The company has a market cap of $9.38 billion, a PE ratio of 20.66, a P/E/G ratio of 2.63 and a beta of 0.91. The business's 50 day simple moving average is $76.82 and its 200-day simple moving average is $82.75. Crown Holdings, Inc. has a fifty-two week low of $69.61 and a fifty-two week high of $96.35.

Crown (NYSE:CCK - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. Crown's revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.17 EPS. On average, equities analysts anticipate that Crown Holdings, Inc. will post 5.9 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Crown's previous quarterly dividend of $0.24. Crown's dividend payout ratio (DPR) is currently 26.60%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Mizuho lowered their target price on Crown from $105.00 to $96.00 and set a "buy" rating for the company in a research report on Tuesday, February 6th. Truist Financial restated a "hold" rating and issued a $88.00 price target (down from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Morgan Stanley started coverage on Crown in a research report on Monday, March 18th. They issued an "equal weight" rating and a $87.00 price target for the company. Wolfe Research started coverage on Crown in a research note on Friday, March 1st. They issued an "outperform" rating and a $102.00 target price on the stock. Finally, UBS Group started coverage on Crown in a research note on Tuesday, January 16th. They issued a "buy" rating and a $112.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $99.21.

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.