15,260 Shares in Crown Holdings, Inc. (NYSE:CCK) Purchased by OFI Invest Asset Management

OFI Invest Asset Management bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,260 shares of the industrial products company’s stock, valued at approximately $1,219,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC boosted its holdings in shares of Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after buying an additional 749,085 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Crown by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock worth $477,923,000 after buying an additional 102,789 shares during the period. State Street Corp boosted its holdings in Crown by 1.8% in the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after purchasing an additional 69,260 shares during the period. Pacer Advisors Inc. boosted its holdings in Crown by 10,138.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after purchasing an additional 3,074,791 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Crown by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock valued at $245,408,000 after purchasing an additional 283,014 shares during the period. Institutional investors own 90.93% of the company’s stock.

Crown Price Performance

CCK stock opened at $91.77 on Monday. The company has a 50 day simple moving average of $86.18 and a 200 day simple moving average of $89.55. The stock has a market cap of $10.79 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80.

Crown (NYSE:CCK) last released its quarterly earnings data 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%. Research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.13%. This is a boost from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio is currently 29.21%.

Analysts Set New Price Targets

A number of analysts have issued reports on CCK shares. Citigroup boosted their price objective on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Truist Financial boosted their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Barclays cut their price objective on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

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.