Entropy Technologies LP lifted its stake in shares of Crown Holdings, Inc. (NYSE:CCK – Free Report) by 205.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,476 shares of the industrial products company’s stock after acquiring an additional 66,862 shares during the period. Entropy Technologies LP owned 0.09% of Crown worth $9,972,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Crown by 2.1% during the 3rd quarter. State Street Corp now owns 4,514,736 shares of the industrial products company’s stock worth $436,078,000 after purchasing an additional 93,045 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Crown by 19.3% in the fourth quarter. AQR Capital Management LLC now owns 4,137,962 shares of the industrial products company’s stock valued at $426,086,000 after buying an additional 670,412 shares during the last quarter. Invesco Ltd. raised its position in shares of Crown by 33.6% in the fourth quarter. Invesco Ltd. now owns 3,526,983 shares of the industrial products company’s stock valued at $363,173,000 after buying an additional 886,471 shares during the last quarter. Swedbank AB lifted its stake in shares of Crown by 1.9% during the fourth quarter. Swedbank AB now owns 2,541,183 shares of the industrial products company’s stock valued at $261,666,000 after buying an additional 47,613 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Crown by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,977,123 shares of the industrial products company’s stock valued at $198,186,000 after buying an additional 32,112 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.
Crown Stock Up 3.0%
Shares of CCK opened at $117.88 on Friday. Crown Holdings, Inc. has a fifty-two week low of $89.21 and a fifty-two week high of $121.76. The company’s fifty day moving average is $104.60 and its two-hundred day moving average is $105.16. The firm has a market cap of $13.17 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.60. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 1.63.
Crown Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.40 annualized dividend and a yield of 1.2%. Crown’s dividend payout ratio (DPR) is presently 20.14%.
Wall Street Analysts Forecast Growth
Several analysts have commented on CCK shares. JPMorgan Chase & Co. cut shares of Crown from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $107.00 to $121.00 in a research note on Wednesday. Citigroup restated a “buy” rating on shares of Crown in a report on Thursday. Royal Bank Of Canada lifted their price objective on Crown from $131.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday. Wall Street Zen upgraded Crown from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Mizuho increased their target price on Crown from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Crown currently has a consensus rating of “Moderate Buy” and an average price target of $128.20.
Check Out Our Latest Stock Analysis on CCK
Crown News Summary
Here are the key news stories impacting Crown this week:
- Positive Sentiment: Royal Bank of Canada raised its price target on Crown Holdings to $135 from $131 and reiterated an outperform rating, suggesting meaningful upside from current levels. Benzinga report
- Positive Sentiment: Crown Holdings declared a quarterly dividend of $0.35 per share, which can appeal to income-focused investors and signals continued shareholder returns. Press release
- Positive Sentiment: Several analysts remained constructive after the earnings beat, including Truist reaffirming Buy and Wells Fargo lifting its price target to $127, which adds to the bullish tone around the stock. Article
- Neutral Sentiment: UBS reportedly kept a Hold rating, indicating some analysts see the shares as fairly valued after the recent rally. UBS Hold report
- Negative Sentiment: J.P. Morgan reportedly downgraded Crown to Neutral after the strong run-up, which may reflect concerns that much of the good news is already priced in. Seeking Alpha report
Insider Buying and Selling
In other Crown news, CEO Timothy J. Donahue sold 15,000 shares of Crown stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $105.00, for a total transaction of $1,575,000.00. Following the transaction, the chief executive officer directly owned 436,070 shares of the company’s stock, valued at $45,787,350. The trade was a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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.
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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