M.D. Sass LLC Decreases Stake in Crown Holdings, Inc. (NYSE:CCK)

M.D. Sass LLC cut its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 22.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 677,043 shares of the industrial products company’s stock after selling 190,577 shares during the period. Crown makes up about 4.2% of M.D. Sass LLC’s portfolio, making the stock its 14th biggest holding. M.D. Sass LLC owned about 0.57% of Crown worth $55,985,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CCK. Pacer Advisors Inc. raised its stake in Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after purchasing an additional 3,074,791 shares in the last quarter. Metropolis Capital Ltd increased its holdings in shares of Crown by 68.7% in the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after buying an additional 1,000,605 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Crown during the 4th quarter valued at about $66,732,000. FMR LLC lifted its holdings in shares of Crown by 9.3% in the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after acquiring an additional 749,085 shares during the last quarter. Finally, Swedbank AB grew its position in Crown by 379.3% in the fourth quarter. Swedbank AB now owns 687,748 shares of the industrial products company’s stock worth $56,870,000 after acquiring an additional 544,246 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. Truist Financial boosted their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Bank of America cut their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $106.00.

Crown Stock Up 0.9 %

Shares of NYSE CCK opened at $88.49 on Tuesday. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.56 and a beta of 0.88. The stock has a 50 day moving average price of $88.02 and a 200 day moving average price of $89.50. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (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%. Sell-side analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The firm 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 represents a $1.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Tuesday, March 18th. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio is presently 29.21%.

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.