OFI Invest Asset Management Purchases Shares of 15,260 Crown Holdings, Inc. (NYSE:CCK)

OFI Invest Asset Management purchased a new stake in Crown Holdings, Inc. (NYSE:CCK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,260 shares of the industrial products company’s stock, valued at approximately $1,219,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCK. Covestor Ltd increased its position in Crown by 156.5% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 277 shares during the period. Brooklyn Investment Group bought a new stake in shares of Crown in the 3rd quarter valued at $44,000. GAMMA Investing LLC boosted its stake in shares of Crown by 84.2% in the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 117 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of Crown by 6,850.0% in the 3rd quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 685 shares during the last quarter. 90.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CCK. UBS Group reduced their price objective on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho reduced their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Truist Financial upped their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Finally, Barclays cut their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crown Stock Up 2.6 %

Crown stock opened at $91.77 on Monday. Crown Holdings, Inc. has a 1-year low of $70.84 and a 1-year high of $98.46. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The firm’s fifty day moving average price is $86.18 and its two-hundred day moving average price is $89.55. 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 released its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share for the quarter, beating 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%. On average, equities research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently disclosed 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 represents a $1.04 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s dividend payout ratio (DPR) is 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.