Bessemer Group Inc. Purchases 138 Shares of Crown Holdings, Inc. (NYSE:CCK)

Bessemer Group Inc. raised its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,061 shares of the industrial products company’s stock after purchasing an additional 138 shares during the quarter. Bessemer Group Inc.’s holdings in Crown were worth $2,816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCK. Raymond James Financial Inc. bought a new position in Crown in the 4th quarter worth approximately $8,466,000. APG Asset Management N.V. lifted its position in shares of Crown by 251.0% during the fourth quarter. APG Asset Management N.V. now owns 90,075 shares of the industrial products company’s stock worth $7,193,000 after acquiring an additional 64,413 shares in the last quarter. Greenland Capital Management LP bought a new position in shares of Crown in the fourth quarter worth $426,000. Abacus FCF Advisors LLC grew its position in shares of Crown by 46.5% in the fourth quarter. Abacus FCF Advisors LLC now owns 22,655 shares of the industrial products company’s stock valued at $1,873,000 after purchasing an additional 7,192 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Crown by 146.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,008,500 shares of the industrial products company’s stock valued at $83,393,000 after purchasing an additional 599,000 shares during the period. Institutional investors own 90.93% of the company’s stock.

Wall Street Analyst Weigh In

CCK has been the subject of a number of recent analyst reports. UBS Group reduced their target price on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho reduced their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Bank of America lowered their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Truist Financial boosted their price target on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Finally, Citigroup increased their price objective on Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Crown Price Performance

Shares of Crown stock opened at $83.75 on Monday. The firm has a market capitalization of $9.80 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.56 and a beta of 0.79. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The business’s 50-day moving average price is $87.53 and its 200-day moving average price is $88.71.

Crown (NYSE:CCK) last issued its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. Crown had a net margin of 3.59% and a return on equity of 25.12%. Sell-side analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 1.24%. Crown’s payout ratio is currently 29.21%.

Crown Company 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.