6,446 Shares in Crown Holdings, Inc. (NYSE:CCK) Purchased by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,446 shares of the industrial products company’s stock, valued at approximately $533,000.

Several other hedge funds have also recently modified their holdings of CCK. Pacer Advisors Inc. increased its position in shares of Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after acquiring an additional 3,074,791 shares during the last quarter. Norges Bank bought a new position in Crown in the 4th quarter valued at $113,568,000. Metropolis Capital Ltd increased its position in shares of Crown by 68.7% during the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after purchasing an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Crown during the 4th quarter worth $66,732,000. Finally, Vulcan Value Partners LLC boosted its holdings in shares of Crown by 450.5% in the 4th quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company’s stock worth $68,027,000 after buying an additional 674,072 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Insider Buying and Selling

In other news, COO Gerard H. Gifford sold 7,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the transaction, the chief operating officer now directly owns 135,014 shares of the company’s stock, valued at approximately $13,096,358. This represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Crown Stock Up 2.4%

Shares of CCK opened at $99.78 on Thursday. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $100.17. 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 stock has a 50 day simple moving average of $89.38 and a two-hundred day simple moving average of $88.45. The firm has a market cap of $11.61 billion, a P/E ratio of 28.03, a P/E/G ratio of 1.56 and a beta of 0.76.

Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.45. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. Crown had a net margin of 3.59% and a return on equity of 25.12%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS. On average, analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, May 15th. Crown’s dividend payout ratio is presently 22.37%.

Wall Street Analyst Weigh In

Several research firms recently commented on CCK. Royal Bank of Canada upped their price objective on Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Truist Financial decreased their price objective on Crown from $107.00 to $97.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company upped their price objective on shares of Crown from $89.00 to $101.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, Mizuho upped their price target on shares of Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Tuesday, April 29th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.45.

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.