Mitsubishi UFJ Trust & Banking Corp Sells 14,893 Shares of Crown Holdings, Inc. (NYSE:CCK)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 14.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,954 shares of the industrial products company’s stock after selling 14,893 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Crown worth $7,190,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings 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 acquiring an additional 3,074,791 shares during the period. Metropolis Capital Ltd lifted its position in shares of Crown by 68.7% during 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 during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Crown during the 4th quarter worth about $66,732,000. Swedbank AB boosted 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 during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Crown by 47.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,269,874 shares of the industrial products company’s stock valued at $121,756,000 after buying an additional 408,828 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Mizuho reduced 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. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Truist Financial upped their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. UBS Group decreased their target price on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, 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 research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crown Price Performance

Shares of CCK stock opened at $88.19 on Monday. The stock’s fifty day simple moving average is $88.32 and its 200 day simple moving average is $89.45. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 24.77, a P/E/G ratio of 1.56 and a beta of 0.88. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80.

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%. On average, analysts expect that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.26 per share. 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 dividend yield of 1.18%. Crown’s dividend payout ratio (DPR) is presently 29.21%.

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.