Crown Holdings, Inc. (NYSE:CCK) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in Crown Holdings, Inc. (NYSE:CCK) by 0.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 151,103 shares of the industrial products company’s stock after purchasing an additional 460 shares during the quarter. Retirement Systems of Alabama’s holdings in Crown were worth $13,915,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. DB Fitzpatrick & Co Inc grew its stake in shares of Crown by 0.9% in the third quarter. DB Fitzpatrick & Co Inc now owns 16,258 shares of the industrial products company’s stock valued at $1,439,000 after buying an additional 142 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Crown by 5.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,057 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 154 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Crown by 1.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 13,715 shares of the industrial products company’s stock valued at $1,205,000 after purchasing an additional 180 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Crown by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 48,116 shares of the industrial products company’s stock valued at $4,257,000 after purchasing an additional 180 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Crown by 2.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,903 shares of the industrial products company’s stock valued at $611,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Trading Up 1.1 %

NYSE:CCK opened at $83.00 on Thursday. Crown Holdings, Inc. has a 12-month low of $69.61 and a 12-month high of $96.35. The firm has a market capitalization of $10.03 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.75 and a beta of 0.91. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. The business has a 50 day simple moving average of $77.94 and a 200 day simple moving average of $82.62.

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

Crown Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. This is a positive change from Crown’s previous quarterly dividend of $0.24. Crown’s payout ratio is currently 28.82%.

Insider Activity at Crown

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lowered their price objective on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. UBS Group assumed coverage on Crown in a research note on Tuesday, January 16th. They set a “buy” rating and a $112.00 price objective for the company. Loop Capital raised their price objective on Crown from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price objective on Crown from $76.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Wolfe Research began coverage on Crown in a research report on Friday, March 1st. They issued an “outperform” rating and a $102.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown presently has an average rating of “Moderate Buy” and an average price target of $99.29.

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.