Strs Ohio Invests $1.14 Million in Crown Holdings, Inc. (NYSE:CCK)

Strs Ohio bought a new position in Crown Holdings, Inc. (NYSE:CCK) during the fourth quarter, HoldingsChannel reports. The fund bought 12,413 shares of the industrial products company’s stock, valued at approximately $1,143,000.

A number of other institutional investors also recently bought and sold shares of CCK. BluePath Capital Management LLC bought a new position in Crown in the 3rd quarter worth $25,000. Sound Income Strategies LLC bought a new position in Crown in the 4th quarter worth $26,000. TFC Financial Management Inc. raised its holdings in Crown by 23,000.0% in the 3rd quarter. TFC Financial Management Inc. now owns 924 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 920 shares during the period. Fifth Third Bancorp raised its holdings in Crown by 46.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 318 shares during the period. Finally, Picton Mahoney Asset Management raised its holdings in Crown by 53.9% in the 3rd quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 363 shares during the period. 90.93% of the stock is owned by institutional investors.

Crown Trading Down 1.1 %

Shares of NYSE CCK opened at $78.59 on Wednesday. The business’s 50 day moving average is $76.90 and its two-hundred day moving average is $82.71. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.15 and a quick ratio of 0.77. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $96.35. The stock has a market capitalization of $9.49 billion, a P/E ratio of 20.90, a PEG ratio of 2.63 and a beta of 0.91.

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

Crown Increases Dividend

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

Wall Street Analysts Forecast Growth

CCK has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on Crown in a report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 target price on the stock. JPMorgan Chase & Co. raised Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price target on the stock in a report on Wednesday, February 7th. Truist Financial reissued a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. Robert W. Baird raised Crown from a “neutral” rating to an “outperform” rating and raised their price target for the company from $85.00 to $90.00 in a report on Tuesday, April 16th. Finally, Wells Fargo & Company decreased their price target on Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.