Adams Diversified Equity Fund Inc. Invests $4.65 Million in Crown Holdings, Inc. (NYSE:CCK)

Adams Diversified Equity Fund Inc. acquired a new position in shares of Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 56,200 shares of the industrial products company’s stock, valued at approximately $4,647,000.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC boosted 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 position in Crown in the third quarter valued at $44,000. GAMMA Investing LLC boosted its holdings in Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 261 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Crown by 20.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 702 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 117 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in Crown by 6,850.0% in the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 685 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CCK. Mizuho reduced their target price on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Barclays reduced their target price on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company lifted their target price on Crown from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Royal Bank of Canada lifted their target price on Crown from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, UBS Group reduced their target price on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, January 10th. 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 an average rating of “Moderate Buy” and a consensus price target of $106.00.

Crown Stock Down 0.4 %

Shares of NYSE CCK opened at $90.15 on Friday. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.56 and a beta of 0.88. 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 stock’s 50-day simple moving average is $87.73 and its 200-day simple moving average is $89.55.

Crown (NYSE:CCK) last announced its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. As a group, equities analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. Crown’s payout ratio is presently 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.