Sumitomo Mitsui DS Asset Management Company Ltd Has $3.39 Million Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in Crown Holdings, Inc. (NYSE:CCK) by 35.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,855 shares of the industrial products company’s stock after selling 20,485 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Crown were worth $3,394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCK. Hudson Bay Capital Management LP increased its stake in shares of Crown by 55.6% in the 3rd quarter. Hudson Bay Capital Management LP now owns 70,000 shares of the industrial products company’s stock valued at $6,194,000 after purchasing an additional 25,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Crown by 245.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock valued at $5,784,000 after purchasing an additional 44,630 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Crown in the 4th quarter valued at $3,122,000. Wellington Management Group LLP increased its stake in shares of Crown by 4.1% in the 3rd quarter. Wellington Management Group LLP now owns 504,720 shares of the industrial products company’s stock valued at $44,658,000 after purchasing an additional 19,666 shares during the last quarter. Finally, SeaTown Holdings Pte. Ltd. increased its stake in shares of Crown by 19.6% in the 3rd quarter. SeaTown Holdings Pte. Ltd. now owns 86,100 shares of the industrial products company’s stock valued at $7,618,000 after purchasing an additional 14,100 shares during the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Down 1.1 %

Shares of CCK opened at $78.59 on Wednesday. The company has a market capitalization of $9.49 billion, a PE ratio of 20.90, a PEG ratio of 2.63 and a beta of 0.91. The company has a current ratio of 1.15, a quick ratio of 0.77 and a debt-to-equity ratio of 2.34. The stock’s 50-day moving average price is $76.90 and its two-hundred day moving average price is $82.71. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $96.35.

Crown (NYSE:CCK) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.19). The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.96 billion. Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. On average, analysts anticipate that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.25 per share. This is an increase from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Wednesday, March 13th. Crown’s dividend payout ratio is 26.60%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CCK. Royal Bank of Canada reduced their price objective on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Wolfe Research began coverage on Crown in a research report on Friday, March 1st. They set an “outperform” rating and a $102.00 price objective on the stock. JPMorgan Chase & Co. upgraded Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price objective on the stock in a research report on Wednesday, February 7th. Wells Fargo & Company reduced their price objective on Crown from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. Finally, Morgan Stanley began coverage on Crown in a research report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.21.

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.