Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Lyrical Asset Management LP

Lyrical Asset Management LP lessened its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 31.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,970 shares of the industrial products company’s stock after selling 23,324 shares during the quarter. Lyrical Asset Management LP’s holdings in Crown were worth $4,215,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors lifted its stake in shares of Crown by 159.6% in the 3rd quarter. Captrust Financial Advisors now owns 8,947 shares of the industrial products company’s stock worth $858,000 after acquiring an additional 5,500 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Crown in the third quarter valued at about $71,000. Centiva Capital LP acquired a new stake in Crown in the third quarter valued at about $548,000. HighTower Advisors LLC increased its position in Crown by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 10,432 shares of the industrial products company’s stock worth $1,007,000 after purchasing an additional 1,609 shares during the period. Finally, Investment Management Corp of Ontario raised its stake in shares of Crown by 136.0% during the 3rd quarter. Investment Management Corp of Ontario now owns 6,559 shares of the industrial products company’s stock worth $629,000 after buying an additional 3,780 shares in the last quarter. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Price Performance

CCK stock opened at $83.10 on Friday. The stock’s 50 day moving average price is $88.44 and its 200 day moving average price is $89.37. The firm has a market cap of $9.72 billion, a P/E ratio of 23.34, 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. Crown Holdings, Inc. has a 1 year low of $70.84 and a 1 year high of $98.46.

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

Crown Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.26 per share. 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 dividend on an annualized basis and a dividend yield of 1.25%. Crown’s payout ratio is 29.21%.

Analysts Set New Price Targets

CCK has been the topic of a number of analyst reports. Truist Financial lifted their price target on Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Citigroup upped their price target on shares of Crown from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. StockNews.com upgraded shares of Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their target price on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, UBS Group reduced their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Crown 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.