Mirae Asset Global Investments Co. Ltd. Purchases 1,091 Shares of Crown Holdings, Inc. (NYSE:CCK)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 155.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,793 shares of the industrial products company’s stock after purchasing an additional 1,091 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Crown were worth $158,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. TD Private Client Wealth LLC increased its stake in Crown by 4.6% during the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 125 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Crown by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 34,061 shares of the industrial products company’s stock worth $2,816,000 after buying an additional 138 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Crown by 2.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,372 shares of the industrial products company’s stock worth $775,000 after buying an additional 200 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in Crown by 3.8% during the fourth quarter. iA Global Asset Management Inc. now owns 5,530 shares of the industrial products company’s stock worth $457,000 after buying an additional 204 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Crown by 33.8% during the first quarter. Parallel Advisors LLC now owns 811 shares of the industrial products company’s stock worth $72,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CCK shares. Mizuho increased their price objective on shares of Crown from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. Wells Fargo & Company increased their price objective on shares of Crown from $89.00 to $101.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Royal Bank Of Canada increased their price objective on shares of Crown from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Morgan Stanley increased their price objective on shares of Crown from $114.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, June 25th. Finally, Truist Financial decreased their price objective on shares of Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Crown presently has a consensus rating of “Moderate Buy” and an average target price of $113.27.

Insider Buying and Selling at Crown

In other news, VP Christy L. Kalaus sold 2,130 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $99.41, for a total transaction of $211,743.30. Following the transaction, the vice president directly owned 4,500 shares of the company’s stock, valued at $447,345. This represents a 32.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Gerard H. Gifford sold 7,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $97.00, for a total transaction of $679,000.00. Following the completion of the sale, the chief operating officer owned 135,014 shares in the company, valued at $13,096,358. This represents a 4.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Crown Price Performance

Shares of CCK stock opened at $107.90 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.87 and a quick ratio of 0.56. The firm’s 50-day moving average is $99.90 and its two-hundred day moving average is $91.02. Crown Holdings, Inc. has a 12 month low of $71.62 and a 12 month high of $108.05. The company has a market capitalization of $12.56 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76.

Crown (NYSE:CCK) last announced its quarterly earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.45. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Crown had a net margin of 4.62% and a return on equity of 26.98%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.02 earnings per share. Analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.04 annualized dividend and a dividend yield of 0.96%. Crown’s dividend payout ratio is presently 22.37%.

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.