New York State Common Retirement Fund Has $4.44 Million Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

New York State Common Retirement Fund cut its stake in Crown Holdings, Inc. (NYSE:CCK) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,703 shares of the industrial products company’s stock after selling 3,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Crown were worth $4,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CCK. Covestor Ltd increased its stake in shares of Crown by 156.5% in the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Crown in the third quarter worth $44,000. GAMMA Investing LLC increased its stake in shares of Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 261 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Crown in the third quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Crown in the third quarter worth $55,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Stock Up 1.9 %

NYSE CCK opened at $89.59 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 firm has a 50-day simple moving average of $85.52 and a 200 day simple moving average of $89.47. Crown Holdings, Inc. has a twelve month low of $70.84 and a twelve month high of $98.46. The stock has a market cap of $10.72 billion, a PE ratio of 25.17, a PEG ratio of 1.56 and a beta of 0.87.

Crown (NYSE:CCK) last released 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 net margin of 3.59% and a return on equity of 25.12%. On average, research analysts forecast that Crown Holdings, Inc. will post 6.96 EPS for the current year.

Crown Increases Dividend

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

Analysts Set New Price Targets

Several research firms have commented on CCK. Morgan Stanley raised shares of Crown from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $109.00 to $105.00 in a research report on Monday, January 13th. Wells Fargo & Company increased 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. Bank of America lowered their target price on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho lowered their target price on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays lowered their target price 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 twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.69.

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.