Crane NXT (NYSE:CXT) Reaches New 52-Week Low - Here's What Happened

Crane NXT, Co. (NYSE:CXT - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $41.64 and last traded at $42.27, with a volume of 486071 shares. The stock had previously closed at $44.12.

Wall Street Analysts Forecast Growth

CXT has been the subject of a number of recent research reports. Northland Securities downgraded Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price for the company. in a research note on Tuesday, February 18th. Northland Capmk lowered shares of 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.33.

Crane NXT Trading Up 0.6 %

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 business's fifty day moving average is $54.00 and its 200 day moving average is $57.17. The stock has a market cap of $2.59 billion, a PE ratio of 14.19 and a beta of 1.21.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating 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%. As a group, analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This is a positive change from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.50%. Crane NXT's payout ratio is 21.32%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC acquired a new stake in shares of Crane NXT during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Crane NXT in the third quarter worth $32,000. Fifth Third Bancorp increased its position in Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after buying an additional 276 shares during the period. Quarry LP bought a new stake in Crane NXT in the fourth quarter valued at $42,000. Finally, Covestor Ltd boosted its holdings in shares of Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after acquiring an additional 206 shares during the period. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Company Profile

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.