Crown Holdings, Inc. (NYSE:CCK) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 24.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,273 shares of the industrial products company’s stock after selling 1,377 shares during the period. OLD National Bancorp IN’s holdings in Crown were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Handelsbanken Fonder AB increased its position in Crown by 5.8% during the fourth quarter. Handelsbanken Fonder AB now owns 20,100 shares of the industrial products company’s stock worth $1,851,000 after buying an additional 1,100 shares during the period. CWM LLC increased its position in Crown by 28.3% during the fourth quarter. CWM LLC now owns 1,627 shares of the industrial products company’s stock worth $150,000 after buying an additional 359 shares during the period. Federated Hermes Inc. increased its position in Crown by 2.1% during the fourth quarter. Federated Hermes Inc. now owns 14,533 shares of the industrial products company’s stock worth $1,338,000 after buying an additional 296 shares during the period. Daiwa Securities Group Inc. increased its position in Crown by 4.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,472 shares of the industrial products company’s stock worth $688,000 after buying an additional 300 shares during the period. Finally, Steph & Co. increased its position in Crown by 151.3% during the fourth quarter. Steph & Co. now owns 3,144 shares of the industrial products company’s stock worth $290,000 after buying an additional 1,893 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Up 0.3 %

Crown stock opened at $78.83 on Thursday. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $96.35. The company has a market cap of $9.52 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The stock’s 50 day moving average price is $77.00 and its 200 day moving average price is $82.68.

Crown (NYSE:CCK) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 earnings per share. On average, sell-side analysts predict that Crown Holdings, Inc. will post 5.9 EPS for the current fiscal year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. This is an increase from Crown’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. Crown’s payout ratio is presently 26.60%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CCK shares. Robert W. Baird raised Crown from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $85.00 to $90.00 in a research report on Tuesday, April 16th. Morgan Stanley assumed coverage on Crown in a research report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price target on the stock. Wolfe Research assumed coverage on Crown in a report on Friday, March 1st. They issued an “outperform” rating and a $102.00 target price on the stock. Mizuho dropped their target price on Crown from $105.00 to $96.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. raised Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

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.