Crane NXT (NYSE:CXT) Sets New 52-Week Low - What's Next?

Shares of Crane NXT, Co. (NYSE:CXT - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $50.23 and last traded at $51.55, with a volume of 390460 shares. The stock had previously closed at $51.40.

Analyst Ratings Changes

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

Crane NXT Trading Down 3.9 %

The company has a market cap of $2.58 billion, a P/E ratio of 14.12 and a beta of 1.21. 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 stock's 50 day moving average is $56.66 and its 200-day moving average is $57.83.

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

Remove Ads

Crane NXT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were paid a $0.17 dividend. This is an increase from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Friday, February 28th. Crane NXT's dividend payout ratio (DPR) is 21.32%.

Institutional Trading of Crane NXT

Hedge funds have recently bought and sold shares of the company. Capital International Investors increased its position in shares of Crane NXT by 79.3% during 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 during the last quarter. Conestoga Capital Advisors LLC purchased a new stake in Crane NXT during the fourth quarter valued at approximately $31,517,000. Silvercrest Asset Management Group LLC raised its position in Crane NXT by 95.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company's stock worth $59,470,000 after acquiring an additional 499,290 shares during the period. Norges Bank purchased a new position in shares of Crane NXT during the 4th quarter worth $26,754,000. Finally, FMR LLC grew its position in shares of Crane NXT by 4.1% during the 4th quarter. FMR LLC now owns 8,576,731 shares of the company's stock valued at $499,337,000 after acquiring an additional 336,765 shares during the period. Hedge funds and other institutional investors own 77.49% of the company's stock.

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.