Crane NXT (NYSE:CXT) Hits New 12-Month Low – Here’s Why

Crane NXT, Co. (NYSE:CXT) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $52.89 and last traded at $52.96, with a volume of 440330 shares trading hands. The stock had previously closed at $53.28.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CXT. Northland Capmk cut shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.33.

Crane NXT Stock Down 0.6 %

The company has a market cap of $3.03 billion, a P/E ratio of 16.60 and a beta of 1.32. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $60.29 and a 200 day moving average price of $58.47.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Equities research analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.17 per share. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 1.28%. Crane NXT’s dividend payout ratio is currently 21.32%.

Institutional Investors Weigh In On Crane NXT

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new position in shares of Crane NXT during the fourth quarter valued at $26,000. Fifth Third Bancorp lifted its position in Crane NXT by 98.6% during the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock valued at $32,000 after purchasing an additional 276 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Crane NXT in the 3rd quarter valued at about $32,000. Quarry LP acquired a new stake in shares of Crane NXT during the 4th quarter worth approximately $42,000. Finally, Covestor Ltd raised its stake in shares of Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company’s stock worth $43,000 after buying an additional 206 shares during the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

About Crane NXT

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers’ important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions.