Tokio Marine Asset Management Co. Ltd. Purchases 154 Shares of Crown Holdings, Inc. (NYSE:CCK)

Tokio Marine Asset Management Co. Ltd. raised its position in Crown Holdings, Inc. (NYSE:CCK) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,057 shares of the industrial products company’s stock after acquiring an additional 154 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Crown were worth $282,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CCK. Victory Capital Management Inc. increased its position in Crown by 9.6% in 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 buying an additional 418,220 shares in the last quarter. FMR LLC increased its position in Crown by 8.6% in the third 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 in the last quarter. Toronto Dominion Bank increased its position in Crown by 41.9% in the third quarter. Toronto Dominion Bank now owns 2,213,904 shares of the industrial products company’s stock worth $195,886,000 after buying an additional 654,082 shares in the last quarter. Impax Asset Management Group plc increased its position in Crown by 7.1% in the fourth quarter. Impax Asset Management Group plc now owns 2,013,351 shares of the industrial products company’s stock worth $185,409,000 after buying an additional 133,813 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in Crown by 46.7% in the third quarter. Hsbc Holdings PLC now owns 1,414,343 shares of the industrial products company’s stock worth $125,449,000 after buying an additional 450,087 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Price Performance

Shares of Crown stock opened at $80.59 on Monday. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.77 and a current ratio of 1.15. The stock has a 50 day moving average price of $77.43 and a 200-day moving average price of $82.59. Crown Holdings, Inc. has a one year low of $69.61 and a one year high of $96.35.

Crown (NYSE:CCK) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. Crown’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 EPS. Equities analysts expect that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.24%. This is a boost from Crown’s previous quarterly dividend of $0.24. Crown’s payout ratio is presently 26.60%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCK. Wolfe Research began coverage on Crown in a research report on Friday, March 1st. They issued an “outperform” rating and a $102.00 price target for the company. Truist Financial restated a “hold” rating and issued a $88.00 price target (down previously from $100.00) on shares of Crown in a research report on Wednesday, March 27th. Wells Fargo & Company cut their target price on Crown from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research note on Wednesday, February 7th. Finally, Morgan Stanley began coverage on Crown in a research note on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Crown presently has an average rating of “Moderate Buy” and a consensus target price of $99.21.

About Crown

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.