Corient Private Wealth LP Purchases New Shares in Crown Crafts, Inc. $CRWS

Corient Private Wealth LP purchased a new position in shares of Crown Crafts, Inc. (NASDAQ:CRWS) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 186,754 shares of the textile maker’s stock, valued at approximately $20,883,000.

A number of other institutional investors have also added to or reduced their stakes in CRWS. Haverford Trust Co purchased a new stake in Crown Crafts in the 2nd quarter valued at about $413,000. William Blair Investment Management LLC bought a new position in shares of Crown Crafts during the 2nd quarter worth approximately $431,000. Summit Asset Management LLC purchased a new position in shares of Crown Crafts in the 2nd quarter worth approximately $503,000. Vise Technologies Inc. purchased a new position in shares of Crown Crafts in the 2nd quarter worth approximately $507,000. Finally, Freestone Grove Partners LP bought a new position in shares of Crown Crafts in the second quarter valued at approximately $510,000. 30.23% of the stock is owned by institutional investors.

Crown Crafts Stock Performance

NASDAQ CRWS opened at $2.87 on Friday. The company has a market capitalization of $30.88 million, a PE ratio of 6.11 and a beta of 0.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.40 and a current ratio of 3.20. Crown Crafts, Inc. has a 52-week low of $2.35 and a 52-week high of $3.14. The company has a 50-day simple moving average of $2.94 and a 200 day simple moving average of $2.85.

Crown Crafts (NASDAQ:CRWS) last released its earnings results on Wednesday, August 12th. The textile maker reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Crown Crafts had a net margin of 5.99% and a return on equity of 12.79%. The firm had revenue of $16.77 million during the quarter, compared to the consensus estimate of $20.90 million.

Crown Crafts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, September 11th. Crown Crafts’s dividend payout ratio (DPR) is currently 68.09%.

Wall Street Analysts Forecast Growth

CRWS has been the subject of a number of research analyst reports. Weiss Ratings raised Crown Crafts from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Wall Street Zen raised Crown Crafts to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

About Crown Crafts

Crown Crafts, Inc (NASDAQ: CRWS) is a U.S.-based designer, marketer and distributor of infant, toddler and juvenile consumer products. The company develops a wide range of softlines and related accessories, including crib and toddler bedding, blankets, decorative pillows, bath towels and washcloths. Since its founding in 1957, Crown Crafts has focused on combining creative design with functional quality to meet the shifting preferences of young families and caregivers.

The company operates two primary business segments.