Lyrical Asset Management LP lowered its position in Crown Holdings, Inc. (NYSE:CCK) by 0.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,391,536 shares of the industrial products company’s stock after selling 13,935 shares during the quarter. Crown accounts for 4.7% of Lyrical Asset Management LP’s holdings, making the stock its 7th largest holding. Lyrical Asset Management LP’s holdings in Crown were worth $339,832,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the stock. Chartwell Investment Partners LLC boosted its holdings in Crown by 36.9% in the fourth quarter. Chartwell Investment Partners LLC now owns 11,902 shares of the industrial products company’s stock valued at $1,193,000 after acquiring an additional 3,205 shares during the last quarter. Equitable Holdings Inc. lifted its stake in shares of Crown by 2.4% during the fourth quarter. Equitable Holdings Inc. now owns 6,385 shares of the industrial products company’s stock worth $640,000 after purchasing an additional 150 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Crown by 1.5% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,340 shares of the industrial products company’s stock worth $2,539,000 after purchasing an additional 365 shares in the last quarter. CIBC World Markets Inc. acquired a new position in shares of Crown during the fourth quarter worth about $1,281,000. Finally, Wakefield Asset Management LLLP acquired a new position in shares of Crown during the fourth quarter worth about $2,321,000. Hedge funds and other institutional investors own 87.90% of the company’s stock.
Crown stock traded down $2.62 during midday trading on Tuesday, hitting $97.54. The stock had a trading volume of 6,223 shares, compared to its average volume of 983,885. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 3.47. The stock has a market cap of $13.14 billion, a P/E ratio of 26.22, a P/E/G ratio of 2.99 and a beta of 1.14. Crown Holdings, Inc. has a 12 month low of $42.97 and a 12 month high of $101.95. The business has a fifty day moving average price of $95.79 and a 200 day moving average price of $88.54.
Crown (NYSE:CCK) last announced its quarterly earnings data on Monday, February 8th. The industrial products company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.22. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.88 billion. Crown had a return on equity of 33.90% and a net margin of 4.52%. Crown’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 earnings per share. On average, equities analysts anticipate that Crown Holdings, Inc. will post 5.71 EPS for the current fiscal year.
A number of brokerages have commented on CCK. Wells Fargo & Company boosted their price objective on Crown from $107.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, January 11th. Citigroup boosted their price objective on Crown from $117.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, February 11th. Barclays boosted their price objective on Crown from $103.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, February 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Crown from $104.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, January 20th. Finally, Zacks Investment Research lowered Crown from a “buy” rating to a “hold” rating and set a $103.00 target price on the stock. in a research report on Tuesday, December 22nd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Crown currently has a consensus rating of “Buy” and a consensus target price of $104.77.
Crown Holdings, Inc designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products in the Americas, Europe, and the Asia Pacific. It offers products for consumer goods, including steel and aluminum cans for food, beverage, household, and other consumer products; glass bottles for beverage product; and metal vacuum closures and steel crowns through its sales organization to the soft drink, food, citrus, brewing, household products, personal care, and various other industries.
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