Nordea Investment Management AB Acquires 176,959 Shares of Crown Holdings, Inc. (NYSE:CCK)

Nordea Investment Management AB grew its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 19.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,095,382 shares of the industrial products company’s stock after purchasing an additional 176,959 shares during the period. Nordea Investment Management AB’s holdings in Crown were worth $90,511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Everence Capital Management Inc. purchased a new stake in Crown during the fourth quarter valued at about $348,000. GAMMA Investing LLC raised its holdings in shares of Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after buying an additional 261 shares in the last quarter. Franklin Resources Inc. lifted its position in Crown by 3.6% in the 3rd quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock worth $87,949,000 after buying an additional 32,909 shares during the last quarter. Tidal Investments LLC boosted its stake in Crown by 121.3% in the third quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after buying an additional 12,058 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in Crown by 48.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 16,575 shares of the industrial products company’s stock valued at $1,589,000 after acquiring an additional 5,397 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Crown from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Mizuho cut their price target on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday. Citigroup lifted their price objective on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday. Loop Capital boosted their price objective on Crown from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.62.

Crown Trading Up 0.2 %

NYSE:CCK opened at $80.27 on Wednesday. Crown Holdings, Inc. has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a current ratio of 1.21, a quick ratio of 0.84 and a debt-to-equity ratio of 2.19. The company has a 50-day moving average price of $88.54 and a 200-day moving average price of $87.79. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 99.10, a P/E/G ratio of 1.95 and a beta of 0.86.

Crown (NYSE:CCK) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.18. Crown had a return on equity of 24.57% and a net margin of 0.83%. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Equities analysts predict that Crown Holdings, Inc. will post 6.34 EPS for the current year.

Crown Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Crown’s dividend payout ratio (DPR) is 123.46%.

Insider Buying and Selling at Crown

In other Crown news, COO Gerard H. Gifford sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $95.89, for a total value of $958,900.00. Following the sale, the chief operating officer now directly owns 114,402 shares of the company’s stock, valued at approximately $10,970,007.78. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.73, for a total value of $725,475.00. Following the transaction, the chief executive officer now owns 563,678 shares of the company’s stock, valued at $54,524,572.94. The trade was a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.