ING Groep NV Lowers Stock Holdings in Crown Holdings, Inc. (NYSE:CCK)

ING Groep NV cut its stake in shares of Crown Holdings, Inc. (NYSE:CCK) by 22.1% in the 4th quarter, Holdings Channel reports. The fund owned 15,500 shares of the industrial products company’s stock after selling 4,400 shares during the quarter. ING Groep NV’s holdings in Crown were worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Covestor Ltd raised its stake in shares of Crown by 156.5% during the third quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the last quarter. Brooklyn Investment Group acquired a new position in Crown in the 3rd quarter valued at $44,000. GAMMA Investing LLC raised its position 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 acquired a new stake in shares of Crown in the 3rd quarter worth $48,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Crown in the third quarter valued at about $55,000. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Price Performance

Crown stock opened at $87.33 on Monday. The firm has a market capitalization of $10.45 billion, a PE ratio of 24.53, a P/E/G ratio of 1.56 and a beta of 0.87. Crown Holdings, Inc. has a 52 week low of $70.84 and a 52 week high of $98.46. The firm’s 50-day simple moving average is $85.25 and its 200 day simple moving average is $89.47. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on CCK shares. UBS Group cut their price target on shares of Crown from $113.00 to $108.00 and set a “buy” rating for the company in a report on Friday, January 10th. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Bank of America decreased their price target on Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company increased their price objective on Crown from $86.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, February 7th. Finally, Barclays decreased 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 research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.69.

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.