Occudo Quantitative Strategies LP Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Occudo Quantitative Strategies LP purchased a new stake in Crown Holdings, Inc. (NYSE:CCK - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 7,986 shares of the industrial products company's stock, valued at approximately $660,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its holdings in Crown by 160.0% in the 4th quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 256 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in 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 worth $57,000 after purchasing an additional 117 shares during the last quarter. Colonial Trust Co SC lifted its stake in Crown by 88.0% in the fourth quarter. Colonial Trust Co SC now owns 752 shares of the industrial products company's stock valued at $62,000 after acquiring an additional 352 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings 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 in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Crown by 325.1% during the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company's stock worth $70,000 after purchasing an additional 647 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Trading Down 0.2%

CCK stock traded down $0.16 during trading on Friday, reaching $99.42. The company had a trading volume of 1,419,721 shares, compared to its average volume of 1,213,662. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $100.17. The company has a market cap of $11.57 billion, a P/E ratio of 27.93, a PEG ratio of 1.56 and a beta of 0.76. The business has a 50 day moving average of $89.75 and a 200 day moving average of $88.47. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80.

Crown (NYSE:CCK - Get Free Report) last issued its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $2.82 billion. During the same quarter last year, the company posted $1.02 earnings per share. The firm's quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.04 annualized dividend and a yield of 1.05%. Crown's payout ratio is 22.37%.

Insiders Place Their Bets

In other Crown news, COO Gerard H. Gifford sold 7,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the sale, the chief operating officer now owns 135,014 shares of the company's stock, valued at approximately $13,096,358. The trade was a 4.93% decrease in their position. The transaction 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.

Analysts Set New Price Targets

CCK has been the subject of a number of recent research reports. UBS Group upped their target price on Crown from $109.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Royal Bank of Canada upped their price target on Crown from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Mizuho upped their price objective on Crown from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. StockNews.com upgraded Crown from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Finally, Truist Financial dropped their target price on Crown from $107.00 to $97.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Crown has a consensus rating of "Moderate Buy" and a consensus price target of $110.45.

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.