Amica Mutual Insurance Co. Purchases 8,759 Shares of Crown Holdings, Inc. (NYSE:CCK)

Amica Mutual Insurance Co. grew its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 11.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 85,512 shares of the industrial products company’s stock after buying an additional 8,759 shares during the period. Amica Mutual Insurance Co.’s holdings in Crown were worth $7,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BluePath Capital Management LLC bought a new stake in Crown during the 3rd quarter valued at about $25,000. Sound Income Strategies LLC bought a new position in Crown in the fourth quarter worth approximately $26,000. TFC Financial Management Inc. increased its holdings in Crown by 23,000.0% during 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. Fifth Third Bancorp lifted its holdings in shares of Crown by 46.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock worth $89,000 after buying an additional 318 shares during the period. Finally, Picton Mahoney Asset Management grew its position in shares of Crown by 53.9% during the 3rd quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company’s stock worth $92,000 after buying an additional 363 shares in the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCK has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Wednesday, February 7th. UBS Group initiated coverage on shares of Crown in a report on Tuesday, January 16th. They set a “buy” rating and a $112.00 price objective on the stock. Wells Fargo & Company lowered their target price on Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Royal Bank of Canada cut their price target on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, Mizuho reduced their price target on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Four 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.21.

Crown Stock Performance

CCK stock traded up $0.45 during trading on Monday, reaching $81.04. The company had a trading volume of 2,064,152 shares, compared to its average volume of 1,228,374. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $96.35. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. The firm has a 50-day simple moving average of $77.43 and a 200-day simple moving average of $82.59. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91.

Crown (NYSE:CCK) last posted its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.06. Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the firm posted $1.20 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, sell-side analysts expect that Crown Holdings, Inc. will post 5.9 earnings per share for the current year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, March 13th. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is currently 26.60%.

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.