Bank of Montreal Can decreased its holdings in Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 78.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,721 shares of the industrial products company’s stock after selling 147,566 shares during the period. Bank of Montreal Can’s holdings in Crown were worth $3,391,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Tobam bought a new position in shares of Crown during the 3rd quarter worth $31,000. Wipfli Financial Advisors LLC bought a new position in shares of Crown during the 3rd quarter worth $48,000. Ronald Blue Trust Inc. grew its position in shares of Crown by 53.3% during the 4th quarter. Ronald Blue Trust Inc. now owns 650 shares of the industrial products company’s stock worth $53,000 after buying an additional 226 shares in the last quarter. Signaturefd LLC grew its position in shares of Crown by 210.2% during the 4th quarter. Signaturefd LLC now owns 974 shares of the industrial products company’s stock worth $80,000 after buying an additional 660 shares in the last quarter. Finally, CWM LLC grew its position in shares of Crown by 28.4% during the 4th quarter. CWM LLC now owns 1,351 shares of the industrial products company’s stock worth $111,000 after buying an additional 299 shares in the last quarter.
Crown Stock Performance
NYSE CCK opened at $78.86 on Friday. The stock’s fifty day moving average is $81.85 and its two-hundred day moving average is $81.86. The firm has a market capitalization of $9.47 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 2.53 and a beta of 1.05. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.67 and a current ratio of 1.18. Crown Holdings, Inc. has a fifty-two week low of $66.00 and a fifty-two week high of $121.28.
Crown Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $0.96 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Crown’s previous quarterly dividend of $0.22. Crown’s payout ratio is 16.08%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on CCK. Robert W. Baird downgraded Crown from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research report on Wednesday, January 4th. Mizuho raised their price objective on Crown from $100.00 to $103.00 in a research report on Thursday, February 9th. Morgan Stanley dropped their price objective on Crown from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 10th. Royal Bank of Canada raised their price objective on Crown from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, February 10th. Finally, StockNews.com downgraded Crown from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.27.
Crown Company Profile
Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans, beverage, promotional, and transit packaging, closures and capping, and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.
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