Mirae Asset Global Investments Co. Ltd. bought a new position in Crown Holdings, Inc. (NYSE:CCK – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 40,191 shares of the industrial products company’s stock, valued at approximately $4,237,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vise Technologies Inc. grew its position in Crown by 8.1% during the third quarter. Vise Technologies Inc. now owns 4,902 shares of the industrial products company’s stock valued at $517,000 after buying an additional 369 shares during the period. State of Wyoming raised its stake in Crown by 163.0% during the 3rd quarter. State of Wyoming now owns 5,302 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 3,286 shares during the period. Parcion Private Wealth LLC purchased a new position in shares of Crown in the third quarter worth $278,000. Choreo LLC boosted its position in shares of Crown by 12.0% during the third quarter. Choreo LLC now owns 6,103 shares of the industrial products company’s stock worth $643,000 after acquiring an additional 654 shares during the last quarter. Finally, Interchange Capital Partners LLC boosted its position in shares of Crown by 17.5% during the third quarter. Interchange Capital Partners LLC now owns 2,816 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 420 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Crown in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Crown in a research note on Wednesday, July 22nd. Jefferies Financial Group set a $121.00 target price on Crown in a report on Wednesday, July 22nd. Raymond James Financial lifted their price objective on shares of Crown from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Finally, Mizuho increased their target price on shares of Crown from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.47.
Crown Trading Down 0.5%
Shares of CCK stock traded down $0.55 on Friday, reaching $121.31. 874,384 shares of the company’s stock were exchanged, compared to its average volume of 846,848. Crown Holdings, Inc. has a 52 week low of $91.31 and a 52 week high of $126.36. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $13.11 billion, a PE ratio of 16.90, a P/E/G ratio of 1.54 and a beta of 0.54. The company’s fifty day simple moving average is $113.11 and its 200 day simple moving average is $108.92.
Crown (NYSE:CCK – Get Free Report) last announced its quarterly earnings data on Monday, October 19th. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.26 by $0.13. Crown had a return on equity of 27.41% and a net margin of 5.78%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the company posted $2.24 EPS. Crown’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts forecast that Crown Holdings, Inc. will post 8.41 EPS for the current year.
Crown Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 5th will be issued a $0.35 dividend. The ex-dividend date is Thursday, November 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. Crown’s dividend payout ratio is presently 19.50%.
Crown Company Profile
Crown Holdings, Inc (NYSE: CCK) is a global packaging company that designs, manufactures and sells metal packaging products. Its portfolio includes beverage cans, food cans, aerosol cans, closures and other specialty packaging used by consumer goods, food and beverage, household, personal care and industrial customers.
The company serves customers across North America, Europe, Asia Pacific and other international markets. Crown’s products are used for beer, soft drinks, energy drinks, canned foods, household products, personal care items and industrial materials.
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