Crown Holdings, Inc. (NYSE:CCK) Holdings Raised by Twinbeech Capital LP

Twinbeech Capital LP grew its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 345.4% in the 4th quarter, HoldingsChannel reports. The firm owned 107,535 shares of the industrial products company’s stock after acquiring an additional 83,394 shares during the quarter. Twinbeech Capital LP’s holdings in Crown were worth $8,892,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CCK. Pacer Advisors Inc. lifted its holdings in shares of Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after purchasing an additional 3,074,791 shares during the last quarter. Norges Bank acquired a new position in Crown during the fourth quarter valued at $113,568,000. Metropolis Capital Ltd raised its position in Crown by 68.7% during the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after buying an additional 1,000,605 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in Crown during the fourth quarter valued at $66,732,000. Finally, Vulcan Value Partners LLC raised its position in Crown by 450.5% during the fourth quarter. Vulcan Value Partners LLC now owns 823,691 shares of the industrial products company’s stock valued at $68,027,000 after buying an additional 674,072 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Stock Performance

CCK opened at $100.13 on Tuesday. The firm has a market capitalization of $11.65 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 1.56 and a beta of 0.76. The stock’s 50 day moving average price is $89.98 and its two-hundred day moving average price is $88.48. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $101.50.

Crown (NYSE:CCK) last released its earnings results on Monday, April 28th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.45. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Crown had a return on equity of 25.12% and a net margin of 3.59%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS. On average, equities analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, May 15th. Crown’s dividend payout ratio (DPR) is currently 22.37%.

Analysts Set New Price Targets

Several research firms recently weighed in on CCK. Wells Fargo & Company upped their price target on Crown from $89.00 to $101.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Truist Financial dropped their target price on Crown from $107.00 to $97.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Barclays upped their target price on Crown from $109.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Finally, Mizuho upped their price target on Crown from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.45.

Insiders Place Their Bets

In other Crown news, VP Christy L. Kalaus sold 2,130 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $99.41, for a total value of $211,743.30. Following the completion of the sale, the vice president now owns 4,500 shares in the company, valued at approximately $447,345. This trade represents a 32.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gerard H. Gifford sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $97.00, for a total value of $679,000.00. Following the completion of the sale, the chief operating officer now owns 135,014 shares of the company’s stock, valued at $13,096,358. This represents a 4.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Crown 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.