1832 Asset Management L.P. Buys Shares of 56,700 Crane NXT, Co. (NYSE:CXT)

1832 Asset Management L.P. acquired a new stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 56,700 shares of the company's stock, valued at approximately $3,225,000. 1832 Asset Management L.P. owned approximately 0.10% of Crane NXT at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CXT. Acadian Asset Management LLC bought a new position in shares of Crane NXT in the third quarter worth about $28,000. CI Investments Inc. acquired a new stake in shares of Crane NXT during the 3rd quarter worth approximately $53,000. Assetmark Inc. raised its stake in shares of Crane NXT by 9,630.0% during the fourth quarter. Assetmark Inc. now owns 973 shares of the company's stock worth $55,000 after buying an additional 963 shares during the last quarter. EMC Capital Management acquired a new position in Crane NXT in the third quarter valued at approximately $89,000. Finally, USA Financial Formulas bought a new position in Crane NXT in the third quarter valued at approximately $105,000. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CXT has been the subject of several recent research reports. Northland Securities started coverage on shares of Crane NXT in a research report on Monday, April 8th. They set an "outperform" rating and a $91.00 target price for the company. DA Davidson increased their target price on Crane NXT from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, March 18th.

Crane NXT Trading Down 0.1 %

NYSE:CXT traded down $0.04 on Friday, reaching $61.01. The company's stock had a trading volume of 161,060 shares, compared to its average volume of 228,176. The firm has a market cap of $3.49 billion, a PE ratio of 19.25 and a beta of 1.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.56 and a current ratio of 2.12. The business's 50-day moving average price is $61.18 and its two-hundred day moving average price is $58.57. Crane NXT, Co. has a 1-year low of $48.42 and a 1-year high of $63.89.

Crane NXT (NYSE:CXT - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). The business had revenue of $313.60 million for the quarter, compared to the consensus estimate of $311.72 million. Crane NXT had a return on equity of 25.50% and a net margin of 13.26%. Crane NXT's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. Equities research analysts anticipate that Crane NXT, Co. will post 4.3 earnings per share for the current fiscal year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, May 31st. Crane NXT's dividend payout ratio (DPR) is presently 20.19%.

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.