Adams Natural Resources Fund Inc. Buys Shares of 42,200 Crown Holdings, Inc. (NYSE:CCK)

Adams Natural Resources Fund Inc. acquired a new stake in shares of Crown Holdings, Inc. (NYSE:CCK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,200 shares of the industrial products company’s stock, valued at approximately $3,490,000.

Several other institutional investors have also recently made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in shares of Crown by 160.0% in the 4th 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 in the last quarter. Brooklyn Investment Group purchased a new stake in Crown in the third quarter worth about $44,000. GAMMA Investing LLC lifted its position 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Crown by 20.0% during 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 acquiring an additional 117 shares during the period. Finally, True Wealth Design LLC raised its stake in Crown by 6,850.0% during the 3rd 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 own 90.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CCK shares. Citigroup lifted their target price on Crown from $110.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada boosted their target price on shares of Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Mizuho dropped their price target on Crown from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Truist Financial boosted their target price on shares of Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Finally, Barclays lowered their price target on Crown from $112.00 to $109.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Crown Trading Down 3.1 %

NYSE:CCK opened at $87.39 on Friday. 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 50-day simple moving average of $87.90 and a 200-day simple moving average of $89.53. Crown Holdings, Inc. has a one year low of $70.84 and a one year high of $98.46. The firm has a market cap of $10.27 billion, a P/E ratio of 24.55, a P/E/G ratio of 1.56 and a beta of 0.88.

Crown (NYSE:CCK) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share 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%. Equities analysts anticipate that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

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