Atria Wealth Solutions Inc. Invests $233,000 in Crown Holdings, Inc. (NYSE:CCK)

Atria Wealth Solutions Inc. bought a new stake in Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,531 shares of the industrial products company’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC bought a new stake in shares of Crown in the 4th quarter valued at $26,000. Fifth Third Bancorp raised its position in shares of Crown by 46.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,009 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 318 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in shares of Crown by 53.9% in the 3rd quarter. Picton Mahoney Asset Management now owns 1,036 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 363 shares during the period. CWM LLC boosted its position in shares of Crown by 28.3% during the 4th quarter. CWM LLC now owns 1,627 shares of the industrial products company’s stock valued at $150,000 after purchasing an additional 359 shares in the last quarter. Finally, RKL Wealth Management LLC acquired a new stake in Crown during the fourth quarter worth approximately $200,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Trading Down 0.3 %

NYSE CCK opened at $83.80 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $10.12 billion, a P/E ratio of 24.15, a PEG ratio of 2.77 and a beta of 0.88. The business has a fifty day simple moving average of $78.76 and a 200 day simple moving average of $82.72. 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 earnings results on Monday, April 29th. The industrial products company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.96 by $0.06. Crown had a net margin of 3.51% and a return on equity of 23.95%. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, analysts predict that Crown Holdings, Inc. will post 5.94 EPS for the current fiscal year.

Crown Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be paid a $0.25 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. Crown’s payout ratio is presently 28.82%.

Wall Street Analysts Forecast Growth

CCK has been the topic of a number of research analyst reports. Truist Financial restated a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price target on shares of Crown from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley started coverage on shares of Crown in a report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective on the stock. Mizuho reduced their target price on Crown from $105.00 to $96.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Finally, Robert W. Baird upped their price target on Crown from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.29.

Insider Activity

In related news, CEO Timothy J. Donahue sold 22,500 shares of Crown stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $85.18, for a total transaction of $1,916,550.00. Following the sale, the chief executive officer now directly owns 616,178 shares in the company, valued at $52,486,042.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

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.