Independent Advisor Alliance Sells 481 Shares of Crown Holdings, Inc. (NYSE:CCK)

Independent Advisor Alliance reduced its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 7.6% during the fourth quarter, Holdings Channel reports. The fund owned 5,819 shares of the industrial products company’s stock after selling 481 shares during the period. Independent Advisor Alliance’s holdings in Crown were worth $481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brooklyn Investment Group bought a new position in Crown during the third quarter valued at approximately $44,000. GAMMA Investing LLC grew its position in Crown by 84.2% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 261 shares during the last quarter. True Wealth Design LLC grew its position in Crown by 6,850.0% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 685 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Crown by 20.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 117 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Crown during the third quarter valued at approximately $71,000. 90.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCK has been the topic of several recent analyst reports. Bank of America cut their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Friday, February 7th. UBS Group cut their target price on shares of Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Morgan Stanley upgraded shares of Crown from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Finally, Royal Bank of Canada raised their target price on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Crown Stock Performance

Shares of Crown stock opened at $90.13 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $10.59 billion, a P/E ratio of 25.32, a P/E/G ratio of 1.56 and a beta of 0.88. The business has a fifty day simple moving average of $86.91 and a two-hundred day simple moving average of $89.53. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46.

Crown (NYSE:CCK) last announced its quarterly earnings data 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 return on equity of 25.12% and a net margin of 3.59%. On average, equities analysts forecast that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.26 dividend. This is a boost from Crown’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 1.15%. Crown’s payout ratio is presently 29.21%.

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.