Corient Private Wealth LP Takes Position in Crown Crafts, Inc. $CRWS

Corient Private Wealth LP bought a new stake in Crown Crafts, Inc. (NASDAQ:CRWS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 186,754 shares of the textile maker’s stock, valued at approximately $20,883,000. Corient Private Wealth LP owned approximately 1.74% of Crown Crafts at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CRWS. Haverford Trust Co bought a new position in Crown Crafts in the second quarter worth approximately $413,000. William Blair Investment Management LLC bought a new stake in shares of Crown Crafts during the second quarter valued at approximately $431,000. Summit Asset Management LLC acquired a new position in shares of Crown Crafts during the second quarter worth approximately $503,000. Vise Technologies Inc. acquired a new position in shares of Crown Crafts during the second quarter worth approximately $507,000. Finally, Freestone Grove Partners LP bought a new position in shares of Crown Crafts in the 2nd quarter worth $510,000. 30.23% of the stock is owned by institutional investors and hedge funds.

Crown Crafts Stock Performance

Shares of CRWS opened at $2.87 on Friday. The firm has a market capitalization of $30.88 million, a P/E ratio of 6.11 and a beta of 0.64. Crown Crafts, Inc. has a 52 week low of $2.35 and a 52 week high of $3.14. The stock has a 50 day moving average price of $2.94 and a two-hundred day moving average price of $2.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.40 and a current ratio of 3.20.

Crown Crafts (NASDAQ:CRWS) last posted its earnings results on Wednesday, August 12th. The textile maker reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The company had revenue of $16.77 million for the quarter, compared to analyst estimates of $20.90 million. Crown Crafts had a return on equity of 12.79% and a net margin of 5.99%.

Crown Crafts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, September 11th. Crown Crafts’s dividend payout ratio is presently 68.09%.

Analyst Ratings Changes

Several research firms recently issued reports on CRWS. Weiss Ratings raised shares of Crown Crafts from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Wall Street Zen raised shares of Crown Crafts to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

About Crown Crafts

Crown Crafts, Inc (NASDAQ: CRWS) is a U.S.-based designer, marketer and distributor of infant, toddler and juvenile consumer products. The company develops a wide range of softlines and related accessories, including crib and toddler bedding, blankets, decorative pillows, bath towels and washcloths. Since its founding in 1957, Crown Crafts has focused on combining creative design with functional quality to meet the shifting preferences of young families and caregivers.

The company operates two primary business segments.