Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 173 Shares of Crown Holdings, Inc. (NYSE:CCK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in Crown Holdings, Inc. (NYSE:CCK) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 26,102 shares of the industrial products company’s stock after selling 173 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Crown were worth $2,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CCK. FMR LLC lifted its holdings in Crown by 9.3% during the 3rd quarter. FMR LLC now owns 8,787,606 shares of the industrial products company’s stock worth $842,556,000 after purchasing an additional 749,085 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Crown by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 5,779,691 shares of the industrial products company’s stock worth $477,923,000 after buying an additional 102,789 shares in the last quarter. State Street Corp boosted its position in shares of Crown by 1.8% in the third quarter. State Street Corp now owns 4,000,402 shares of the industrial products company’s stock valued at $383,559,000 after acquiring an additional 69,260 shares during the period. Pacer Advisors Inc. grew its stake in Crown by 10,138.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,105,118 shares of the industrial products company’s stock valued at $256,762,000 after acquiring an additional 3,074,791 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Crown by 10.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,967,810 shares of the industrial products company’s stock worth $245,408,000 after acquiring an additional 283,014 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CCK shares. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Truist Financial raised their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a report on Monday, January 6th. UBS Group cut their price objective on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Barclays lowered their target price on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Stock Performance

Crown stock opened at $88.49 on Tuesday. The firm has a fifty day simple moving average of $88.02 and a two-hundred day simple moving average of $89.50. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The company has a market capitalization of $10.40 billion, a PE ratio of 24.86, a P/E/G ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last issued its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share 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%. Research analysts expect that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. This is an increase from Crown’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 18th. Crown’s dividend payout ratio is 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.