Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Crown Holdings, Inc. (NYSE:CCK)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 17.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 90,245 shares of the industrial products company’s stock after purchasing an additional 13,644 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Crown worth $7,268,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CCK. Pacer Advisors Inc. raised its stake in 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 buying an additional 3,074,791 shares during the last quarter. Metropolis Capital Ltd boosted its stake in Crown by 68.7% in the 4th quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock worth $203,116,000 after purchasing an additional 1,000,605 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Crown during the 4th quarter valued at about $66,732,000. Swedbank AB increased its stake in Crown by 379.3% during the 4th quarter. Swedbank AB now owns 687,748 shares of the industrial products company’s stock valued at $56,870,000 after purchasing an additional 544,246 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Crown by 47.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,269,874 shares of the industrial products company’s stock worth $121,756,000 after buying an additional 408,828 shares during the last quarter. 90.93% of the stock is owned by institutional investors.

Crown Price Performance

Shares of NYSE:CCK opened at $89.30 on Tuesday. The firm’s 50 day moving average price is $88.39 and its 200-day moving average price is $89.44. 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 stock has a market capitalization of $10.45 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46.

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

Crown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.26 dividend. This is a boost from Crown’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.16%. Crown’s dividend payout ratio is presently 29.21%.

Wall Street Analyst Weigh In

CCK has been the subject of several analyst reports. Citigroup raised their price target on shares of Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada lifted their target price on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $109.00 to $105.00 in a report on Monday, January 13th. Bank of America reduced their price objective on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Mizuho decreased their target price on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.