Entropy Technologies LP acquired a new position in Crown Holdings, Inc. (NYSE:CCK – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 32,614 shares of the industrial products company’s stock, valued at approximately $3,358,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Barclays PLC boosted its position in Crown by 124.9% in the fourth quarter. Barclays PLC now owns 445,160 shares of the industrial products company’s stock worth $45,838,000 after purchasing an additional 247,213 shares during the last quarter. Aigen Investment Management LP purchased a new position in Crown in the fourth quarter worth $287,000. Atlas Capital Advisors Inc. bought a new stake in shares of Crown in the fourth quarter valued at $184,000. Kestra Advisory Services LLC raised its stake in shares of Crown by 203.1% in the fourth quarter. Kestra Advisory Services LLC now owns 6,446 shares of the industrial products company’s stock valued at $664,000 after buying an additional 4,319 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Crown by 905.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 583 shares of the industrial products company’s stock valued at $60,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.
Crown Stock Performance
NYSE:CCK opened at $98.86 on Monday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.70 and a current ratio of 1.12. Crown Holdings, Inc. has a 52-week low of $89.21 and a 52-week high of $116.62. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.63 and a beta of 0.63. The business’s fifty day moving average is $99.90 and its 200 day moving average is $103.03.
Crown Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Thursday, May 14th. Crown’s payout ratio is presently 22.29%.
Insider Activity
In related news, CEO Timothy J. Donahue sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $106.85, for a total transaction of $801,375.00. Following the sale, the chief executive officer directly owned 451,070 shares in the company, valued at approximately $48,196,829.50. The trade was a 1.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.90% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on CCK shares. UBS Group lowered their target price on Crown from $120.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft started coverage on Crown in a research note on Wednesday, April 1st. They issued a “buy” rating and a $124.00 target price on the stock. DA Davidson lowered their target price on Crown from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Citigroup boosted their target price on Crown from $127.00 to $129.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Crown in a research note on Monday, February 23rd. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.00.
Read Our Latest Research Report on CCK
Crown Profile
Crown Holdings, Inc is a leading global supplier of rigid packaging products for consumer goods markets. The company designs, manufactures and sells metal packaging for beverage, food, household, personal care and specialty products. Its portfolio includes aluminum and steel beverage cans, steel food cans, aluminum aerosols, metal closures and ends, offering customers end-to-end solutions from design and prototyping to large-scale production.
Founded in 1919 as the Crown Cork & Seal Company, Crown has grown through strategic acquisitions and investments in advanced manufacturing technologies.
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