Bryce Point Capital LLC Invests $493,000 in Crown Holdings, Inc. (NYSE:CCK)

Bryce Point Capital LLC purchased a new stake in Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, Holdings Channel.com reports. The firm purchased 5,956 shares of the industrial products company’s stock, valued at approximately $493,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CCK. Tidal Investments LLC raised its stake in shares of Crown by 121.3% in the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after acquiring an additional 12,058 shares during the last quarter. Nordea Investment Management AB raised its position in Crown by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock worth $90,511,000 after purchasing an additional 176,959 shares during the last quarter. Metropolis Capital Ltd lifted its holdings in Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after buying an additional 1,000,605 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Crown by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company’s stock valued at $67,183,000 after buying an additional 8,739 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Crown in the 3rd quarter valued at $861,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CCK shares. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Bank of America reduced 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. Wells Fargo & Company increased their price objective on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Truist Financial lifted their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Finally, UBS Group lowered their price target on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Crown Stock Down 1.8 %

Shares of CCK stock opened at $88.56 on Friday. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The firm has a fifty day moving average of $88.53 and a 200-day moving average of $89.43. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 24.88, a P/E/G ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last released its 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 return on equity of 25.12% and a net margin of 3.59%. As a group, equities research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a $0.26 dividend. This is a boost from Crown’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.17%. Crown’s payout ratio is presently 29.21%.

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.