Levin Capital Strategies L.P. Trims Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

Levin Capital Strategies L.P. reduced its stake in Crown Holdings, Inc. (NYSE:CCK) by 8.9% during the 4th quarter, according to its most recent Form 13F 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 comprises approximately 1.6% of Levin Capital Strategies L.P.’s portfolio, making the stock its 21st biggest holding. Levin Capital Strategies L.P. owned approximately 0.17% of Crown worth $16,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Metis Global Partners LLC lifted its position in shares of Crown by 3.8% in the fourth quarter. Metis Global Partners LLC now owns 5,349 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 194 shares in the last quarter. US Bancorp DE lifted its position in shares of Crown by 41.5% in the fourth quarter. US Bancorp DE now owns 3,039 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 891 shares in the last quarter. SVB Wealth LLC purchased a new position in Crown during the fourth quarter worth about $323,000. Versor Investments LP purchased a new position in Crown during the fourth quarter worth about $1,560,000. Finally, Proficio Capital Partners LLC purchased a new position in Crown during the fourth quarter worth about $1,884,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Stock Performance

Crown stock opened at $89.59 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.22 and a quick ratio of 0.80. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. 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. The stock’s 50-day moving average is $85.65 and its 200-day moving average is $89.50.

Crown (NYSE:CCK) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating 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 earnings per share for the current year.

Crown Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio (DPR) is 28.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CCK shares. 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 research report on Friday, February 7th. 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 research report on Monday, January 6th. StockNews.com upgraded Crown from a “hold” rating to a “buy” rating in a research 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 research 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 research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.