Steph & Co. Acquires 1,893 Shares of Crown Holdings, Inc. (NYSE:CCK)

Steph & Co. grew its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 151.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,144 shares of the industrial products company’s stock after acquiring an additional 1,893 shares during the quarter. Steph & Co.’s holdings in Crown were worth $290,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CCK. Fairfield Bush & CO. acquired a new position in Crown during the 1st quarter worth approximately $143,000. US Bancorp DE boosted its position in Crown by 9.6% during the 1st quarter. US Bancorp DE now owns 3,506 shares of the industrial products company’s stock worth $439,000 after acquiring an additional 308 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in Crown by 30.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,866 shares of the industrial products company’s stock worth $359,000 after acquiring an additional 666 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Crown in the 1st quarter valued at approximately $392,000. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Crown by 43.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 62,763 shares of the industrial products company’s stock valued at $8,318,000 after buying an additional 19,046 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Performance

Shares of CCK traded down $0.55 during midday trading on Wednesday, reaching $76.43. 874,312 shares of the stock were exchanged, compared to its average volume of 1,211,833. Crown Holdings, Inc. has a twelve month low of $69.61 and a twelve month high of $96.35. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The company has a market cap of $9.23 billion, a P/E ratio of 20.47, a PEG ratio of 2.58 and a beta of 0.91. The stock’s 50 day simple moving average is $76.68 and its 200 day simple moving average is $82.97.

Crown (NYSE:CCK) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). Crown had a return on equity of 25.75% and a net margin of 3.75%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the business posted $1.17 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Crown Holdings, Inc. will post 5.91 earnings per share for the current 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 dividend of $0.25 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is currently 26.60%.

Analysts Set New Price Targets

CCK has been the subject of several recent analyst reports. UBS Group initiated coverage on Crown in a report on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price objective for the company. Royal Bank of Canada cut their price objective on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Mizuho cut their price objective on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Morgan Stanley initiated coverage on Crown in a report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price objective for the company. Finally, Truist Financial reissued a “hold” rating and issued a $88.00 price objective (down previously from $100.00) on shares of Crown in a report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average price target of $99.21.

Crown 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.