Impax Asset Management Group plc Lowers Stake in Crown Holdings, Inc. (NYSE:CCK)

Impax Asset Management Group plc lessened its holdings in Crown Holdings, Inc. (NYSE:CCK) by 84.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 217,904 shares of the industrial products company’s stock after selling 1,166,371 shares during the quarter. Impax Asset Management Group plc’s holdings in Crown were worth $18,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its position in Crown by 158.9% during the 3rd quarter. Blue Trust Inc. now owns 1,574 shares of the industrial products company’s stock valued at $151,000 after buying an additional 966 shares in the last quarter. Raymond James & Associates grew its stake in shares of Crown by 16.2% in the third quarter. Raymond James & Associates now owns 115,158 shares of the industrial products company’s stock worth $11,041,000 after acquiring an additional 16,074 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Crown during the third quarter valued at $267,000. International Assets Investment Management LLC purchased a new position in shares of Crown in the 3rd quarter worth about $2,087,000. Finally, Assenagon Asset Management S.A. bought a new position in Crown in the 3rd quarter worth about $1,743,000. Institutional investors own 90.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Truist Financial upped their price objective on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Bank of America reduced their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Royal Bank of Canada upped their price target on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Crown presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.69.

Crown Stock Performance

Shares of CCK opened at $86.86 on Tuesday. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The business has a fifty day moving average of $85.26 and a 200 day moving average of $89.48. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The firm has a market capitalization of $10.39 billion, a P/E ratio of 24.40, a PEG ratio of 1.56 and a beta of 0.87.

Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

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.