Federated Hermes Inc. Has $1.34 Million Holdings in Crown Holdings, Inc. (NYSE:CCK)

Federated Hermes Inc. raised its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,533 shares of the industrial products company’s stock after acquiring an additional 296 shares during the quarter. Federated Hermes Inc.’s holdings in Crown were worth $1,338,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Hudson Bay Capital Management LP increased its stake in 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 buying an additional 25,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Crown by 245.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock worth $5,784,000 after acquiring an additional 44,630 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Crown during the fourth quarter worth $3,122,000. Wellington Management Group LLP boosted its position in Crown by 4.1% during the third 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. grew its stake in Crown by 19.6% in the third 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 in the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Stock Up 0.6 %

CCK opened at $81.04 on Tuesday. The business has a 50 day moving average of $77.60 and a 200-day moving average of $82.60. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.73 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. Crown Holdings, Inc. has a 1-year low of $69.61 and a 1-year high of $96.35.

Crown (NYSE:CCK) last issued its quarterly earnings results on Monday, April 29th. The industrial products company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Crown had a net margin of 3.75% and a return on equity of 25.75%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the firm earned $1.20 EPS. The business’s revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Crown Holdings, Inc. will post 5.9 earnings per share 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 represents a $1.00 annualized dividend and a yield of 1.23%. This is a positive change from Crown’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 13th. Crown’s payout ratio is currently 26.60%.

Analyst Upgrades and Downgrades

CCK has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised Crown from a “neutral” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Wednesday, February 7th. Royal Bank of Canada cut their price target on shares of Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Truist Financial reaffirmed a “hold” rating and issued a $88.00 price objective (down previously from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Wells Fargo & Company lowered their target price on shares of 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 initiated coverage on Crown in a research report on Monday, March 18th. They issued an “equal weight” rating and a $87.00 price target for the company. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Crown has a consensus rating of “Moderate Buy” and a consensus target price of $99.21.

About Crown

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.