Crown Holdings, Inc. (NYSE:CCK) Declares Quarterly Dividend of $0.22

Crown Holdings, Inc. (NYSE:CCKGet Rating) announced a quarterly dividend on Thursday, April 28th, RTT News reports. Shareholders of record on Thursday, May 12th will be given a dividend of 0.22 per share by the industrial products company on Thursday, May 26th. This represents a $0.88 dividend on an annualized basis and a yield of 0.79%.

Crown has a payout ratio of 9.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Crown to earn $9.39 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 9.4%.

NYSE:CCK opened at $111.12 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.67 and a debt-to-equity ratio of 2.60. Crown has a 12 month low of $95.27 and a 12 month high of $130.42. The company has a 50 day simple moving average of $122.15 and a two-hundred day simple moving average of $113.73. The company has a market cap of $13.73 billion, a PE ratio of -23.95, a price-to-earnings-growth ratio of 2.98 and a beta of 1.09.

Crown (NYSE:CCKGet Rating) last released its earnings results on Monday, April 25th. The industrial products company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.19. Crown had a negative net margin of 4.70% and a positive return on equity of 37.44%. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company earned $1.83 EPS. Crown’s revenue for the quarter was up 23.3% on a year-over-year basis. Research analysts forecast that Crown will post 8.18 earnings per share for the current year.

In related news, Director John W. Conway sold 336 shares of the business’s stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $123.54, for a total value of $41,509.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hock Huat Goh sold 5,717 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $120.00, for a total value of $686,040.00. The disclosure for this sale can be found here. Insiders sold a total of 13,706 shares of company stock worth $1,684,110 in the last quarter. 1.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Deutsche Bank AG boosted its position in shares of Crown by 625.2% in the fourth quarter. Deutsche Bank AG now owns 950,859 shares of the industrial products company’s stock valued at $105,184,000 after acquiring an additional 819,739 shares during the period. Morgan Stanley boosted its position in shares of Crown by 28.0% in the second quarter. Morgan Stanley now owns 753,803 shares of the industrial products company’s stock valued at $77,046,000 after acquiring an additional 165,068 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Crown by 1.2% in the fourth quarter. Parametric Portfolio Associates LLC now owns 407,162 shares of the industrial products company’s stock valued at $45,040,000 after purchasing an additional 4,782 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Crown in the fourth quarter valued at $10,957,000. Finally, LPL Financial LLC raised its stake in shares of Crown by 12.3% in the fourth quarter. LPL Financial LLC now owns 25,060 shares of the industrial products company’s stock valued at $2,772,000 after purchasing an additional 2,739 shares in the last quarter. 88.01% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have commented on CCK. Morgan Stanley boosted their price target on shares of Crown from $129.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, January 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crown from $136.00 to $142.00 in a report on Friday, February 11th. Citigroup upped their target price on shares of Crown from $143.00 to $151.00 in a research note on Friday, April 8th. BMO Capital Markets raised shares of Crown from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $110.00 to $140.00 in a research report on Thursday, February 10th. Finally, StockNews.com began coverage on shares of Crown in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $142.83.

Crown Company Profile (Get Rating)

Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food and beverage industries. The company also provides products for industrial products, such as steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment to metals, food and beverage, construction, agricultural, corrugated, and general industries.

See Also

Dividend History for Crown (NYSE:CCK)

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