John G Ullman & Associates Inc. Lowers Position in Crown Holdings, Inc. (NYSE:CCK)

John G Ullman & Associates Inc. cut its stake in Crown Holdings, Inc. (NYSE:CCK) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,589 shares of the industrial products company’s stock after selling 145 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Crown were worth $2,633,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hudson Bay Capital Management LP grew its holdings in Crown by 55.6% during the third quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock valued at $6,194,000 after purchasing an additional 25,000 shares during the period. Louisiana State Employees Retirement System bought a new position in Crown during the fourth quarter valued at $3,122,000. Wellington Management Group LLP grew its holdings in Crown by 4.1% during the third quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock valued at $44,658,000 after purchasing an additional 19,666 shares during the period. SeaTown Holdings Pte. Ltd. grew its holdings in Crown by 19.6% during the third quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock valued at $7,618,000 after purchasing an additional 14,100 shares during the period. Finally, Comerica Bank bought a new position in Crown during the third quarter valued at $5,019,000. 90.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group assumed coverage on Crown in a research report on Tuesday, January 16th. They set a “buy” rating and a $112.00 target price on the stock. Robert W. Baird upgraded Crown from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $85.00 to $90.00 in a research report on Tuesday. Truist Financial restated a “hold” rating and set a $88.00 target price (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. JPMorgan Chase & Co. upgraded Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research report on Wednesday, February 7th. Finally, Mizuho lowered their price objective on Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.21.

Crown Stock Up 1.0 %

Crown stock traded up $0.75 during trading hours on Friday, hitting $77.67. 1,084,329 shares of the stock traded hands, compared to its average volume of 1,197,745. The firm’s 50-day moving average price is $76.76 and its two-hundred day moving average price is $82.88. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35. The company has a market cap of $9.38 billion, a PE ratio of 20.63, a PEG ratio of 2.59 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34.

Crown (NYSE:CCK) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). Crown had a net margin of 3.75% and a return on equity of 25.75%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the business posted $1.17 earnings per share. Crown’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, research analysts forecast that Crown Holdings, Inc. will post 5.91 EPS for the current year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.25 dividend. This is a positive change from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 13th. Crown’s payout ratio is presently 26.60%.

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.