ING Groep NV Reduces Stake in Crown Holdings, Inc. (NYSE:CCK)

ING Groep NV lessened its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 22.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,500 shares of the industrial products company’s stock after selling 4,400 shares during the period. ING Groep NV’s holdings in Crown were worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CCK. Ieq Capital LLC raised its stake in Crown by 469.5% during the fourth quarter. Ieq Capital LLC now owns 59,016 shares of the industrial products company’s stock worth $4,880,000 after purchasing an additional 48,654 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of Crown during the 4th quarter valued at approximately $3,258,000. Venturi Wealth Management LLC lifted its holdings in Crown by 48.6% in the fourth quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 269 shares during the last quarter. CIBC Asset Management Inc grew its position in Crown by 13.7% in the fourth quarter. CIBC Asset Management Inc now owns 4,894 shares of the industrial products company’s stock worth $405,000 after acquiring an additional 590 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in Crown during the fourth quarter worth $1,176,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Down 1.5 %

Shares of NYSE CCK opened at $87.33 on Monday. The stock has a market cap of $10.45 billion, a P/E ratio of 24.53, a PEG ratio of 1.56 and a beta of 0.87. The business’s fifty day simple moving average is $85.25 and its 200-day simple moving average is $89.47. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88.

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

Analyst Ratings Changes

Several brokerages have recently commented on CCK. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Mizuho lowered their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Barclays dropped their price target on shares of Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lifted their target price on shares of Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.69.

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.