Howe & Rusling Inc. Reduces Position in Crown Holdings, Inc. (NYSE:CCK)

Howe & Rusling Inc. decreased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,954 shares of the industrial products company’s stock after selling 974 shares during the period. Howe & Rusling Inc. owned approximately 0.08% of Crown worth $8,017,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 worth $57,000 after buying an additional 117 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Crown by 4.6% in the fourth quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 125 shares during the period. Spire Wealth Management grew its position in Crown by 16.2% in the fourth quarter. Spire Wealth Management now owns 992 shares of the industrial products company’s stock worth $82,000 after buying an additional 138 shares during the last quarter. Marshall & Sullivan Inc. WA boosted its stake in Crown by 0.3% in the 4th quarter. Marshall & Sullivan Inc. WA now owns 57,268 shares of the industrial products company’s stock worth $4,735,000 after purchasing an additional 155 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Crown by 0.4% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 45,445 shares of the industrial products company’s stock valued at $3,758,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CCK. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $109.00 to $105.00 in a research note on Monday, January 13th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Mizuho lowered their target price on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company upped their target price on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Finally, Bank of America lowered their target price on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Stock Performance

CCK opened at $89.18 on Thursday. The firm has a market capitalization of $10.48 billion, a PE ratio of 25.05, a P/E/G ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The firm has a 50 day moving average of $88.08 and a two-hundred day moving average of $89.47. 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 quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. On average, analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.17%. This is a boost from Crown’s previous quarterly dividend of $0.25. Crown’s 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.