Hohimer Wealth Management LLC Purchases 5,876 Shares of Crown Holdings, Inc. $CCK

Hohimer Wealth Management LLC increased its holdings in Crown Holdings, Inc. (NYSE:CCK) by 16.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,922 shares of the industrial products company’s stock after buying an additional 5,876 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Crown were worth $4,314,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Crown by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,977,123 shares of the industrial products company’s stock valued at $198,186,000 after acquiring an additional 32,112 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Crown by 19.3% during the first quarter. Quantinno Capital Management LP now owns 1,156,902 shares of the industrial products company’s stock worth $115,979,000 after purchasing an additional 186,849 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Crown during the second quarter worth $112,578,000. Nykredit A S acquired a new position in Crown during the second quarter valued at $99,537,000. Finally, Renaissance Technologies LLC lifted its position in Crown by 14.7% during the first quarter. Renaissance Technologies LLC now owns 548,000 shares of the industrial products company’s stock valued at $54,937,000 after purchasing an additional 70,300 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Stock Up 0.0%

Shares of CCK opened at $121.31 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.65. Crown Holdings, Inc. has a 12 month low of $91.31 and a 12 month high of $126.36. The stock’s 50 day moving average is $113.11 and its two-hundred day moving average is $108.92. The firm has a market cap of $13.11 billion, a P/E ratio of 16.90, a PEG ratio of 1.52 and a beta of 0.54.

Crown (NYSE:CCK) last announced its earnings results on Monday, October 19th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.13. Crown had a return on equity of 27.41% and a net margin of 5.78%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the company posted $2.24 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts predict that Crown Holdings, Inc. will post 8.41 earnings per share for the current fiscal year.

Crown Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, November 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. Crown’s dividend payout ratio is currently 19.50%.

Analysts Set New Price Targets

Several equities research analysts have commented on CCK shares. Wells Fargo & Company reaffirmed a “cautious” rating on shares of Crown in a report on Monday, October 19th. Raymond James Financial lifted their price objective on Crown from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Truist Financial reissued a “buy” rating and issued a $141.00 price objective (up from $129.00) on shares of Crown in a report on Wednesday, July 22nd. Royal Bank Of Canada boosted their price objective on Crown from $131.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Robert W. Baird upped their target price on Crown from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Crown has an average rating of “Moderate Buy” and an average price target of $128.47.

Crown Profile

Crown Holdings, Inc is a global packaging company that designs and manufactures metal packaging for consumer goods and industrial products. Its products include beverage cans, food cans, aerosol containers, metal closures and other packaging components.

The company serves customers across a range of industries, including beverage, food, household and personal care, and industrial markets. Its operations span North America, Europe, Asia-Pacific and other international markets.

Crown traces its roots to 1892, when William Painter founded the Crown Cork and Seal Company in Baltimore.