Adams Natural Resources Fund Inc. Makes New Investment in Crown Holdings, Inc. (NYSE:CCK)

Adams Natural Resources Fund Inc. acquired a new position in Crown Holdings, Inc. (NYSE:CCK) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 42,200 shares of the industrial products company’s stock, valued at approximately $3,490,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Crown by 160.0% during the fourth quarter. Farther Finance Advisors LLC now owns 416 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 256 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Crown during the 3rd quarter worth about $44,000. GAMMA Investing LLC raised its stake 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Crown by 20.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after buying an additional 117 shares during the period. Finally, True Wealth Design LLC grew its holdings 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 worth $67,000 after acquiring an additional 685 shares during the period. Institutional investors and hedge funds own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

CCK has been the subject of several recent research reports. Mizuho cut their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada upped their price objective on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barclays lowered their price target on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Bank of America cut their price objective on Crown from $107.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Trading Down 3.1 %

Shares of Crown stock opened at $87.39 on Friday. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.80 and a current ratio of 1.22. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 1.56 and a beta of 0.88. The stock has a 50 day moving average of $87.90 and a 200 day moving average of $89.53.

Crown (NYSE:CCK) last issued its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. As a group, research analysts predict that Crown Holdings, Inc. will post 6.96 earnings per share for the current year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.19%. The ex-dividend date is Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) 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.