Machina Capital S.A.S. Acquires New Holdings in Crown Holdings, Inc. (NYSE:CCK)

Machina Capital S.A.S. acquired a new stake in Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,036 shares of the industrial products company’s stock, valued at approximately $499,000.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC grew its position in Crown by 9.3% in the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock valued at $842,556,000 after acquiring an additional 749,085 shares in the last quarter. Victory Capital Management Inc. grew its position in Crown by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock valued at $477,923,000 after acquiring an additional 102,789 shares in the last quarter. State Street Corp grew its position in Crown by 1.8% in the 3rd quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after acquiring an additional 69,260 shares in the last quarter. Pacer Advisors Inc. grew its position in Crown by 10,138.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after acquiring an additional 3,074,791 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Crown by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock valued at $245,408,000 after acquiring an additional 283,014 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Performance

Shares of CCK opened at $91.77 on Friday. The stock has a 50 day moving average price of $86.18 and a 200 day moving average price of $89.54. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46.

Crown (NYSE:CCK) last released its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. Research analysts predict that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.26 dividend. This is a positive change from Crown’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.13%. Crown’s dividend payout ratio is 29.21%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCK. Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Wells Fargo & Company boosted their price objective on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Mizuho lowered their price objective on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Bank of America lowered their price objective on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Truist Financial boosted their price objective on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.