Private Management Group Inc. Sells 1,707 Shares of Crown Holdings, Inc. (NYSE:CCK)

Private Management Group Inc. lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 304,133 shares of the industrial products company’s stock after selling 1,707 shares during the period. Private Management Group Inc.’s holdings in Crown were worth $28,008,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Crown by 9.6% during the third quarter. Victory Capital Management Inc. now owns 4,786,441 shares of the industrial products company’s stock worth $423,504,000 after purchasing an additional 418,220 shares during the period. FMR LLC grew its position in shares of Crown by 8.6% during the 3rd quarter. FMR LLC now owns 3,776,097 shares of the industrial products company’s stock worth $334,109,000 after buying an additional 298,766 shares during the period. Toronto Dominion Bank increased its stake in shares of Crown by 41.9% in the 3rd quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock valued at $195,886,000 after acquiring an additional 654,082 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Crown by 7.1% during the 4th quarter. Impax Asset Management Group plc now owns 2,013,351 shares of the industrial products company’s stock valued at $185,409,000 after acquiring an additional 133,813 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Crown by 46.7% during the third quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company’s stock worth $125,449,000 after acquiring an additional 450,087 shares in the last quarter. 90.93% of the stock is owned by institutional investors.

Crown Stock Down 1.1 %

CCK stock traded down $0.84 during trading on Tuesday, reaching $78.59. The stock had a trading volume of 1,154,863 shares, compared to its average volume of 1,199,489. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 2.63 and a beta of 0.91. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35. The company’s 50 day moving average is $76.90 and its two-hundred day moving average is $82.71.

Crown (NYSE:CCK) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.19). The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.96 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.17 earnings per share. Equities research analysts forecast that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Crown’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. Crown’s payout ratio is presently 26.60%.

Analyst Ratings Changes

CCK has been the subject of several research analyst reports. UBS Group started coverage on shares of Crown in a research note on Tuesday, January 16th. They issued a “buy” rating and a $112.00 price target for the company. Truist Financial reaffirmed a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Royal Bank of Canada reduced their price objective on Crown from $110.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a research report on Wednesday, February 7th. Finally, Robert W. Baird raised shares of Crown from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $85.00 to $90.00 in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.21.

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.