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

Crane NXT, Co. (NYSE:CXT)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $52.04 and last traded at $52.10, with a volume of 117626 shares trading hands. The stock had previously closed at $53.51.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Northland Securities cut Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a report on Tuesday, February 18th. Northland Capmk cut Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.33.

Crane NXT Trading Down 1.1 %

The firm has a market capitalization of $3.03 billion, a PE ratio of 16.59 and a beta of 1.32. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average price of $59.29 and a two-hundred day moving average price of $58.24.

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

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were paid a dividend of $0.17 per share. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 1.28%. Crane NXT’s dividend payout ratio is presently 21.32%.

Hedge Funds Weigh In On Crane NXT

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its stake in Crane NXT by 4.1% during the 4th quarter. FMR LLC now owns 8,576,731 shares of the company’s stock worth $499,337,000 after acquiring an additional 336,765 shares in the last quarter. Vanguard Group Inc. raised its position in Crane NXT by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock valued at $345,303,000 after purchasing an additional 66,800 shares in the last quarter. Wellington Management Group LLP raised its position in Crane NXT by 2.4% in the 4th quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company’s stock valued at $183,750,000 after purchasing an additional 72,992 shares in the last quarter. State Street Corp raised its position in Crane NXT by 1.6% in the 3rd quarter. State Street Corp now owns 1,443,518 shares of the company’s stock valued at $80,981,000 after purchasing an additional 22,041 shares in the last quarter. Finally, Capital International Investors raised its position in Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock valued at $78,658,000 after purchasing an additional 597,537 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

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.