Xponance Inc. Buys 1,974 Shares of Crown Holdings, Inc. (NYSE:CCK)

Xponance Inc. raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 10.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 20,432 shares of the industrial products company’s stock after purchasing an additional 1,974 shares during the quarter. Xponance Inc.’s holdings in Crown were worth $1,690,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 117 shares during the period. Spire Wealth Management lifted its stake in shares of Crown by 16.2% in the 4th quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 138 shares during the period. Marshall & Sullivan Inc. WA lifted its stake in shares of Crown by 0.3% in the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock worth $4,735,000 after purchasing an additional 155 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of Crown by 0.4% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company’s stock worth $3,758,000 after purchasing an additional 165 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of Crown by 3.8% in the 3rd quarter. M&T Bank Corp now owns 5,013 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 185 shares during the period. Institutional investors own 90.93% of the company’s stock.

Crown Trading Down 3.1 %

CCK stock opened at $87.39 on Friday. The firm has a fifty day moving average price of $87.90 and a 200 day moving average price of $89.52. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The firm has a market cap of $10.27 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88.

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

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.19%. This is a positive change from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s payout ratio is presently 29.21%.

Wall Street Analysts Forecast Growth

CCK has been the topic of a number of recent analyst reports. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. UBS Group decreased their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho decreased their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company raised their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Bank of America decreased their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Crown has an average rating of “Moderate Buy” and an average price target of $106.00.

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.