Mutual of America Capital Management LLC Decreases Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Mutual of America Capital Management LLC lowered its stake in Crown Holdings, Inc. (NYSE:CCK) by 0.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 160,446 shares of the industrial products company’s stock after selling 1,074 shares during the period. Mutual of America Capital Management LLC’s holdings in Crown were worth $13,267,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CCK. International Assets Investment Management LLC purchased a new position in shares of Crown in the third quarter worth about $2,087,000. Assenagon Asset Management S.A. purchased a new position in shares of Crown in the third quarter worth about $1,743,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Crown during the 3rd quarter valued at about $55,000. Wealth Enhancement Advisory Services LLC increased its holdings in Crown by 177.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,832 shares of the industrial products company’s stock valued at $1,901,000 after purchasing an additional 12,676 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in Crown by 2.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,477 shares of the industrial products company’s stock valued at $894,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Crown Stock Performance

Crown stock opened at $89.59 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The stock’s 50 day simple moving average is $85.52 and its two-hundred day simple moving average is $89.47. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.56 and a beta of 0.87.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. As a group, analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.26 dividend. This is a boost from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Tuesday, March 18th. Crown’s payout ratio is currently 28.09%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America reduced their price target on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company boosted their price target on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Truist Financial boosted their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada boosted their price target on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Crown has a consensus rating of “Moderate Buy” and a consensus target price of $105.69.

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.