LPL Financial LLC Decreases Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

LPL Financial LLC reduced its position in shares of Crown Holdings, Inc. (NYSE:CCK – Get Rating) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,924 shares of the industrial products company’s stock after selling 3,357 shares during the period. LPL Financial LLC’s holdings in Crown were worth $1,885,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CCK. Barnett & Company Inc. lifted its position in Crown by 1.1% in the fourth quarter. Barnett & Company Inc. now owns 11,575 shares of the industrial products company’s stock valued at $952,000 after acquiring an additional 125 shares during the last quarter. Brinker Capital Investments LLC lifted its position in Crown by 1.3% in the fourth quarter. Brinker Capital Investments LLC now owns 12,683 shares of the industrial products company’s stock valued at $1,043,000 after acquiring an additional 158 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Crown by 1.7% in the third quarter. Gamco Investors INC. ET AL now owns 9,570 shares of the industrial products company’s stock valued at $775,000 after acquiring an additional 163 shares during the last quarter. Verition Fund Management LLC lifted its position in Crown by 2.8% in the third quarter. Verition Fund Management LLC now owns 6,278 shares of the industrial products company’s stock valued at $509,000 after acquiring an additional 169 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Crown by 3.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,572 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 200 shares during the last quarter.

Crown Stock Up 1.2 %

CCK stock opened at $81.48 on Wednesday. The company has a market cap of $9.79 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.59 and a beta of 1.05. Crown Holdings, Inc. has a 52 week low of $66.00 and a 52 week high of $110.80. The company’s 50-day moving average price is $80.61 and its 200 day moving average price is $82.64. The company has a current ratio of 1.30, a quick ratio of 0.73 and a debt-to-equity ratio of 2.84.

Crown (NYSE:CCK – Get Rating) last released its quarterly earnings data on Monday, April 24th. The industrial products company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. Crown had a net margin of 4.81% and a return on equity of 31.41%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. On average, research analysts expect that Crown Holdings, Inc. will post 6.3 earnings per share for the current fiscal year.

Crown Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, May 10th. Crown’s dividend payout ratio (DPR) is presently 18.90%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCK. Wells Fargo & Company dropped their price objective on shares of Crown from $86.00 to $79.00 in a research note on Monday, March 27th. Citigroup lifted their price objective on shares of Crown from $103.00 to $104.00 in a research note on Thursday, April 27th. StockNews.com lowered shares of Crown from a “hold” rating to a “sell” rating in a research note on Saturday. Mizuho boosted their price target on shares of Crown from $103.00 to $108.00 in a research note on Wednesday, April 26th. Finally, Barclays boosted their price target on shares of Crown from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus price target of $97.60.

Insider Buying and Selling at Crown

In other Crown news, Director James H. Miller sold 9,300 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $84.86, for a total value of $789,198.00. Following the sale, the director now owns 19,801 shares of the company’s stock, valued at $1,680,312.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Crown Company Profile

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Crown Holdings, Inc engages in the design, manufacture, and sale of packaging products and equipment for consumer goods. The firm offers aerosol cans, beverage, promotional, and transit packaging, closures and capping, and food cans. It operates through the following segments: Americas, Europe, Asia Pacific, and Transit Packaging.