Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lessened its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 203,036 shares of the industrial products company’s stock after selling 19,928 shares during the quarter. Crown accounts for 1.6% of Levin Capital Strategies L.P.’s portfolio, making the stock its 21st largest position. Levin Capital Strategies L.P.’s holdings in Crown were worth $16,789,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CCK. Covestor Ltd grew its stake in Crown by 156.5% during the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Crown during the 3rd quarter valued at approximately $44,000. GAMMA Investing LLC lifted its holdings in Crown by 84.2% during the 4th quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after buying an additional 261 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Crown during the 3rd quarter worth approximately $48,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Crown during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 90.93% of the company’s stock.

Crown Trading Up 1.9 %

Shares of NYSE CCK opened at $89.59 on Friday. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87. Crown Holdings, Inc. has a 12-month low of $70.84 and a 12-month high of $98.46. The company has a current ratio of 1.22, a quick ratio of 0.80 and a debt-to-equity ratio of 1.88. The stock’s 50 day simple moving average is $85.65 and its 200 day simple moving average is $89.50.

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

Crown Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.16%. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is presently 28.09%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Bank of America reduced their target price on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, January 6th. 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 increased their target price on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. Royal Bank of Canada increased their target price on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Morgan Stanley raised Crown from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $109.00 to $105.00 in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Crown has a consensus rating of “Moderate Buy” and an average target price of $106.00.

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.