Allstate Corp Acquires New Holdings in Crown Holdings, Inc. (NYSE:CCK)

Allstate Corp bought a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,532 shares of the industrial products company’s stock, valued at approximately $292,000.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 256 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 261 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock worth $57,000 after buying an additional 117 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Crown during the third quarter worth about $71,000. Finally, Venturi Wealth Management LLC raised its position in Crown by 48.6% in the 4th quarter. Venturi Wealth Management LLC now owns 823 shares of the industrial products company’s stock valued at $68,000 after buying an additional 269 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Price Performance

Shares of CCK opened at $90.29 on Thursday. The company’s 50-day moving average is $88.53 and its 200-day moving average is $89.44. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. The firm has a market capitalization of $10.56 billion, a PE ratio of 25.36, a PEG ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46.

Crown (NYSE:CCK) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) 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 analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.26 per share. This is a boost from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.15%. Crown’s dividend payout ratio (DPR) is presently 29.21%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCK. Mizuho decreased their price target 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. Bank of America lowered their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Citigroup raised their price objective on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company upped their target price on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Finally, Barclays decreased their price target on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Crown 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.