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

Crane NXT, Co. (NYSE:CXT - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $52.89 and last traded at $52.96, with a volume of 440330 shares changing hands. The stock had previously closed at $53.28.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Northland Securities downgraded shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price target on the stock. in a research note on Tuesday, February 18th. Northland Capmk downgraded Crane NXT from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $83.33.

Crane NXT Stock Performance

The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 16.60 and a beta of 1.32. The firm's 50 day moving average is $60.29 and its 200-day moving average is $58.47. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14.

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Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently declared 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 represents a $0.68 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, February 28th. This is an increase from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's dividend payout ratio (DPR) is 21.32%.

Institutional Trading of Crane NXT

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its position in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company's stock valued at $499,337,000 after purchasing an additional 336,765 shares during the last quarter. Vanguard Group Inc. increased its position in Crane NXT by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company's stock worth $345,303,000 after acquiring an additional 66,800 shares during the period. Wellington Management Group LLP raised its stake in Crane NXT by 2.4% during 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 during the last quarter. State Street Corp boosted its holdings 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 during the period. Finally, Capital International Investors increased its holdings 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 worth $78,658,000 after purchasing an additional 597,537 shares during the period. 77.49% of the stock is currently 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.

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