Adams Diversified Equity Fund Inc. Acquires Shares of 56,200 Crown Holdings, Inc. (NYSE:CCK)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC raised its stake in Crown by 4.6% during the 4th quarter. TD Private Client Wealth LLC now owns 2,864 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 125 shares during the last quarter. iA Global Asset Management Inc. raised its stake in Crown by 3.8% during the 4th quarter. iA Global Asset Management Inc. now owns 5,530 shares of the industrial products company’s stock valued at $457,000 after acquiring an additional 204 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Crown during the 4th quarter valued at approximately $373,000. Harvest Fund Management Co. Ltd increased its position in Crown by 6,322.2% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,734 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 1,707 shares during the period. Finally, Vinva Investment Management Ltd increased its position in Crown by 208.2% during the 4th quarter. Vinva Investment Management Ltd now owns 11,911 shares of the industrial products company’s stock worth $975,000 after purchasing an additional 8,046 shares during the period. 90.93% of the stock is owned by hedge funds and other institutional investors.

Crown Stock Performance

Crown stock opened at $90.15 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 stock has a fifty day moving average of $87.73 and a two-hundred day moving average of $89.55. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.56 and a beta of 0.88. Crown Holdings, Inc. has a fifty-two week low of $70.84 and a fifty-two week high of $98.46.

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

Crown Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This is an increase from Crown’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 annualized dividend and a yield of 1.15%. Crown’s dividend payout ratio (DPR) is presently 29.21%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Royal Bank of Canada boosted their target price on Crown from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Truist Financial boosted their target price on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Barclays dropped their target price on Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Mizuho dropped their target price on Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crown currently has a consensus rating of “Moderate Buy” and an average price target 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.