Los Angeles Capital Management LLC Cuts Stock Position in Crown Holdings, Inc. (NYSE:CCK)

Los Angeles Capital Management LLC trimmed its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,165 shares of the industrial products company’s stock after selling 1,230 shares during the period. Los Angeles Capital Management LLC’s holdings in Crown were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Crown by 10.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock worth $245,408,000 after purchasing an additional 283,014 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Crown during the 4th quarter worth approximately $2,382,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Crown by 15.8% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 82,200 shares of the industrial products company’s stock worth $6,797,000 after acquiring an additional 11,200 shares during the period. Nan Fung Trinity HK Ltd. grew its position in Crown by 40.8% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 221,600 shares of the industrial products company’s stock valued at $18,324,000 after acquiring an additional 64,200 shares in the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of Crown during the fourth quarter valued at approximately $213,000. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCK has been the subject of several analyst reports. Barclays decreased their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Mizuho lowered their target price on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Bank of America dropped their target price on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Truist Financial increased 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, Wells Fargo & Company lifted their price objective on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and eleven have issued 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 $106.00.

Crown Stock Performance

CCK stock opened at $88.21 on Tuesday. The stock’s 50 day simple moving average is $85.65 and its 200 day simple moving average is $89.54. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The firm has a market cap of $10.55 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.56 and a beta of 0.87. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

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

Crown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.26 dividend. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Tuesday, March 18th. Crown’s payout ratio is presently 29.21%.

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.