Brandywine Global Investment Management LLC Acquires 1,979 Shares of Crown Holdings, Inc. (NYSE:CCK)

Brandywine Global Investment Management LLC lifted its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 765,352 shares of the industrial products company’s stock after buying an additional 1,979 shares during the period. Brandywine Global Investment Management LLC owned about 0.64% of Crown worth $63,287,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of Crown by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after buying an additional 102,789 shares during the last quarter. State Street Corp boosted its stake in shares of Crown by 1.8% during the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after purchasing an additional 69,260 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Crown by 10,138.8% in 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 acquiring an additional 3,074,791 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Crown by 10.5% during the 4th 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 buying an additional 283,014 shares in the last quarter. Finally, Metropolis Capital Ltd increased its holdings in shares of Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after acquiring an additional 1,000,605 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Crown Price Performance

NYSE:CCK opened at $88.19 on Friday. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.56 and a beta of 0.88. The firm’s fifty day moving average is $88.32 and its two-hundred day moving average is $89.45. 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 Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46.

Crown (NYSE:CCK) last released its quarterly 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 return on equity of 25.12% and a net margin of 3.59%. Research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CCK. Wells Fargo & Company raised their target price on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Truist Financial upped their price objective on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $109.00 to $105.00 in a report on Monday, January 13th. Royal Bank of Canada increased their price objective on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Mizuho decreased their price objective on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

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.