Crane NXT (NYSE:CXT) Sets New 52-Week Low - Should You Sell?

Crane NXT, Co. (NYSE:CXT - Get Free Report) shares reached a new 52-week low on Friday . The company traded as low as $52.04 and last traded at $52.10, with a volume of 117626 shares traded. The stock had previously closed at $53.51.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Northland Capmk downgraded shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Northland Securities downgraded Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. in a research 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 given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.33.

Crane NXT Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The firm's 50-day moving average price is $59.12 and its 200-day moving average price is $58.23. The stock has a market cap of $3.04 billion, a P/E ratio of 16.70 and a beta of 1.32.

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

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Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. This is an increase from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's dividend payout ratio is currently 21.32%.

Hedge Funds Weigh In On Crane NXT

Hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp grew its stake in shares of Crane NXT by 60.6% during the third quarter. Stifel Financial Corp now owns 43,627 shares of the company's stock valued at $2,448,000 after buying an additional 16,465 shares during the last quarter. Park Avenue Securities LLC bought a new position in Crane NXT in the 4th quarter valued at $527,000. Barclays PLC increased its stake in Crane NXT by 45.3% in the third quarter. Barclays PLC now owns 37,663 shares of the company's stock worth $2,113,000 after purchasing an additional 11,734 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Crane NXT by 12.3% during the third quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company's stock worth $22,224,000 after purchasing an additional 43,439 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Crane NXT during the third quarter worth $507,000. 77.49% of the stock is currently owned by institutional investors.

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.