Howe & Rusling Inc. Grows Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Howe & Rusling Inc. increased its stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) by 202.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,859 shares of the industrial products company's stock after purchasing an additional 64,844 shares during the quarter. Howe & Rusling Inc. owned approximately 0.08% of Crown worth $8,920,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CCK. SG Americas Securities LLC bought a new position in Crown during the third quarter worth about $614,000. Asset Management One Co. Ltd. raised its holdings in Crown by 3.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 46,708 shares of the industrial products company's stock valued at $4,133,000 after acquiring an additional 1,376 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Crown by 2.7% during the third quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company's stock worth $611,000 after acquiring an additional 183 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Crown by 4.5% in the third quarter. Tectonic Advisors LLC now owns 29,531 shares of the industrial products company's stock worth $2,613,000 after acquiring an additional 1,282 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Crown by 61.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,966 shares of the industrial products company's stock valued at $616,000 after purchasing an additional 2,638 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Mizuho cut their target price on Crown from $105.00 to $96.00 and set a "buy" rating for the company in a research note on Tuesday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Crown from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday. Truist Financial reaffirmed a "hold" rating and set a $88.00 target price (down previously from $100.00) on shares of Crown in a report on Wednesday, March 27th. Wells Fargo & Company raised their price target on shares of Crown from $76.00 to $84.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, Morgan Stanley initiated coverage on shares of Crown in a research report on Monday, March 18th. They set an "equal weight" rating and a $87.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $99.29.

Insider Buying and Selling

In other Crown news, CEO Timothy J. Donahue sold 22,500 shares of the firm's stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the sale, the chief executive officer now owns 616,178 shares of the company's stock, valued at approximately $52,486,042.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is owned by insiders.

Crown Trading Up 1.1 %

NYSE:CCK traded up $0.93 during trading hours on Wednesday, reaching $83.00. The company's stock had a trading volume of 1,847,398 shares, compared to its average volume of 1,256,100. The firm has a 50-day simple moving average of $77.94 and a 200-day simple moving average of $82.62. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. Crown Holdings, Inc. has a 1 year low of $69.61 and a 1 year high of $96.35. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.75 and a beta of 0.91.

Crown (NYSE:CCK - Get Free Report) last released its earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.06. Crown had a return on equity of 24.23% and a net margin of 3.51%. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the company posted $1.20 EPS. Crown's revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts expect that Crown Holdings, Inc. will post 5.9 EPS for the current fiscal year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.25 dividend. This is a boost from Crown's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. Crown's dividend payout ratio (DPR) is currently 28.82%.

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.