DnB Asset Management AS Has $43.13 Million Stock Position in Crown Holdings, Inc. (NYSE:CCK)

DnB Asset Management AS boosted its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 521,531 shares of the industrial products company’s stock after purchasing an additional 21,817 shares during the period. DnB Asset Management AS owned 0.44% of Crown worth $43,125,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CCK. Tidal Investments LLC grew its stake in shares of Crown by 121.3% in the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after buying an additional 12,058 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Crown by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock valued at $90,511,000 after purchasing an additional 176,959 shares during the period. Metropolis Capital Ltd lifted 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 valued at $203,116,000 after purchasing an additional 1,000,605 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Crown by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company’s stock worth $67,183,000 after purchasing an additional 8,739 shares during the period. Finally, Virtu Financial LLC acquired a new position in Crown during the third quarter worth approximately $861,000. 90.93% of the stock is currently owned by institutional investors.

Crown Stock Up 0.9 %

CCK stock opened at $89.99 on Friday. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $98.46. The business has a 50-day simple moving average of $88.27 and a 200 day simple moving average of $89.47. 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 cap of $10.53 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Tuesday, March 18th. Crown’s dividend payout ratio is currently 29.21%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho reduced their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Citigroup lifted their target price on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, January 6th. StockNews.com raised shares of Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. 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 report on Friday, February 7th. Finally, UBS Group dropped their price target on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average 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.