Nomura Asset Management Co. Ltd. Reduces Holdings in Crown Holdings, Inc. (NYSE:CCK)

Nomura Asset Management Co. Ltd. lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 36,057 shares of the industrial products company’s stock after selling 410 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Crown were worth $2,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of Crown by 160.0% in the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after buying an additional 256 shares in the last quarter. GAMMA Investing LLC raised its holdings in Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in 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 in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Crown by 48.6% during the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 269 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Crown by 325.1% in the fourth quarter. Jones Financial Companies Lllp now owns 846 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 647 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analysts Set New Price Targets

CCK has been the subject of several analyst reports. UBS Group dropped their target price on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Citigroup raised their price objective on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. 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 report on Monday, January 6th. Royal Bank of Canada raised their price target on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company upped their price objective on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Crown currently has an average rating of “Moderate Buy” and an average target price of $106.00.

Crown Price Performance

CCK stock opened at $90.29 on Thursday. The business’s fifty day moving average price is $88.53 and its 200 day moving average price is $89.44. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $10.56 billion, a PE ratio of 25.36, a P/E/G ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) is currently 29.21%.

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.