KLP Kapitalforvaltning AS Invests $6.50 Million in Crown Holdings, Inc. (NYSE:CCK)

KLP Kapitalforvaltning AS bought a new position in Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 78,582 shares of the industrial products company’s stock, valued at approximately $6,498,000. KLP Kapitalforvaltning AS owned 0.07% of Crown at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC increased its holdings in Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after buying an additional 256 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Crown during the 3rd quarter worth approximately $44,000. GAMMA Investing LLC increased its stake in Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 261 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Crown by 20.0% in the fourth 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 in the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Crown by 6,850.0% during the 3rd quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 685 shares during the period. 90.93% of the stock is owned by institutional investors.

Crown Trading Down 1.5 %

Shares of CCK opened at $87.10 on Wednesday. The stock has a market capitalization of $10.24 billion, a P/E ratio of 24.47, a PEG ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The firm has a fifty day simple moving average of $88.02 and a two-hundred day simple moving average of $89.50.

Crown (NYSE:CCK) last posted 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%. On average, research analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.19%. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is 29.21%.

Analyst Ratings Changes

CCK has been the subject of a number of research reports. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $109.00 to $105.00 in a research note on Monday, January 13th. Wells Fargo & Company boosted their price target on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Royal Bank of Canada increased their price objective on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays lowered their price target on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, UBS Group lowered their target price on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

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.