Howe & Rusling Inc. Grows Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Howe & Rusling Inc. raised its position in Crown Holdings, Inc. (NYSE:CCK) by 202.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,859 shares of the industrial products company’s stock after acquiring an additional 64,844 shares during the quarter. Howe & Rusling Inc. owned approximately 0.08% of Crown worth $8,920,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CCK. SG Americas Securities LLC purchased a new position in shares of Crown during the third quarter valued at about $614,000. Asset Management One Co. Ltd. boosted its stake in Crown by 3.0% during the third quarter. Asset Management One Co. Ltd. now owns 46,708 shares of the industrial products company’s stock worth $4,133,000 after acquiring an additional 1,376 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Crown by 2.7% during the third quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company’s stock worth $611,000 after acquiring an additional 183 shares in the last quarter. Tectonic Advisors LLC boosted its stake in Crown by 4.5% during the third quarter. Tectonic Advisors LLC now owns 29,531 shares of the industrial products company’s stock worth $2,613,000 after acquiring an additional 1,282 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Crown by 61.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,966 shares of the industrial products company’s stock worth $616,000 after acquiring an additional 2,638 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCK. JPMorgan Chase & Co. upped their target price on shares of Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wolfe Research began coverage on shares of Crown in a research note on Friday, March 1st. They issued an “outperform” rating and a $102.00 target price on the stock. Robert W. Baird upped their target price on shares of Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley started coverage on shares of Crown in a report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on shares of Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.29.

Insider Transactions at Crown

In other news, CEO Timothy J. Donahue sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $85.18, for a total value of $1,916,550.00. Following the completion of the sale, the chief executive officer now owns 616,178 shares in the company, valued at approximately $52,486,042.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

Crown Price Performance

Shares of NYSE:CCK traded up $1.22 during midday trading on Wednesday, reaching $83.29. 1,258,106 shares of the company were exchanged, compared to its average volume of 1,247,832. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The business’s fifty day moving average is $77.78 and its two-hundred day moving average is $82.62. The stock has a market cap of $10.06 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.75 and a beta of 0.91.

Crown (NYSE:CCK) last released its quarterly earnings data on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 24.23%. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the business earned $1.20 earnings per share. Crown’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, analysts predict that Crown Holdings, Inc. will post 5.9 earnings per share for the current year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Wednesday, March 13th. This is a positive change from Crown’s previous quarterly dividend of $0.24. Crown’s dividend payout ratio (DPR) is 28.82%.

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.