Trexquant Investment LP Acquires 76,728 Shares of Crown Holdings, Inc. (NYSE:CCK)

Trexquant Investment LP increased its holdings in shares of Crown Holdings, Inc. (NYSE:CCK) by 27.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 351,364 shares of the industrial products company’s stock after buying an additional 76,728 shares during the quarter. Trexquant Investment LP owned 0.29% of Crown worth $29,054,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Tidal Investments LLC grew its position in Crown by 121.3% during the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock worth $2,109,000 after acquiring an additional 12,058 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Crown by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock worth $90,511,000 after purchasing an additional 176,959 shares during the last quarter. Metropolis Capital Ltd increased its stake in shares of Crown by 68.7% in the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after buying an additional 1,000,605 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Crown by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 812,474 shares of the industrial products company’s stock worth $67,183,000 after buying an additional 8,739 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Crown during the 3rd quarter worth approximately $861,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Performance

Shares of CCK stock opened at $89.30 on Tuesday. 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 firm has a fifty day simple moving average of $88.39 and a two-hundred day simple moving average of $89.44. Crown Holdings, Inc. has a 12 month low of $70.84 and a 12 month high of $98.46. The firm has a market capitalization of $10.45 billion, a PE ratio of 25.09, a price-to-earnings-growth 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 net margin of 3.59% and a return on equity of 25.12%. Analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current fiscal year.

Crown Increases Dividend

The firm 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s payout ratio is presently 29.21%.

Wall Street Analyst Weigh In

CCK has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 7th. UBS Group reduced their price target on Crown from $113.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Truist Financial raised their price objective on Crown from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $109.00 to $105.00 in a research report on Monday, January 13th. Finally, Barclays dropped their price target on shares of Crown from $112.00 to $109.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.