Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Holdings, Inc. (NYSE:CCK – Get Rating) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,800 shares of the industrial products company’s stock, valued at approximately $2,727,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CCK. Commonwealth Equity Services LLC boosted its stake in shares of Crown by 5.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,942 shares of the industrial products company’s stock worth $546,000 after buying an additional 261 shares during the last quarter. Yousif Capital Management LLC purchased a new stake in shares of Crown during the 4th quarter valued at $328,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Crown by 22.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,615 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 661 shares during the period. Atria Investments LLC boosted its holdings in shares of Crown by 7.0% in the 4th quarter. Atria Investments LLC now owns 21,537 shares of the industrial products company’s stock worth $2,382,000 after buying an additional 1,405 shares during the last quarter. Finally, Congress Wealth Management LLC DE bought a new position in Crown during the fourth quarter valued at about $239,000. 91.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have commented on CCK. Truist Financial lowered their price objective on shares of Crown from $147.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Citigroup reduced their price objective on Crown from $130.00 to $126.00 in a report on Friday, July 22nd. Morgan Stanley lowered their target price on Crown from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 26th. Wells Fargo & Company decreased their price objective on Crown from $110.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Finally, Mizuho cut their price objective on shares of Crown from $131.00 to $126.00 in a report on Wednesday, April 27th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $132.64.
Insider Buying and Selling
Crown Stock Up 0.5 %
Shares of CCK opened at $100.64 on Tuesday. Crown Holdings, Inc. has a 1 year low of $85.85 and a 1 year high of $130.42. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.95 and a quick ratio of 0.54. The stock has a 50 day simple moving average of $94.62 and a two-hundred day simple moving average of $108.64. The firm has a market cap of $12.19 billion, a P/E ratio of -33.66, a P/E/G ratio of 2.58 and a beta of 1.13.
Crown (NYSE:CCK – Get Rating) last released its earnings results on Wednesday, July 20th. The industrial products company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.03 by $0.07. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.20 billion. Crown had a negative net margin of 3.07% and a positive return on equity of 40.47%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.14 EPS. On average, analysts forecast that Crown Holdings, Inc. will post 7.76 earnings per share for the current fiscal year.
Crown Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.88 annualized dividend and a yield of 0.87%. Crown’s payout ratio is -29.43%.
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.
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