Driehaus Capital Management LLC Has $55.76 Million Stake in Crane (NYSE:CR)

Driehaus Capital Management LLC lifted its holdings in shares of Crane (NYSE:CR) by 12.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 384,588 shares of the conglomerate’s stock after purchasing an additional 42,743 shares during the quarter. Driehaus Capital Management LLC owned 0.67% of Crane worth $55,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CR. Capital International Investors boosted its position in shares of Crane by 103.3% during the first quarter. Capital International Investors now owns 1,348,451 shares of the conglomerate’s stock worth $182,216,000 after buying an additional 685,230 shares during the period. Select Equity Group L.P. acquired a new position in Crane during the 2nd quarter worth approximately $21,159,000. Hantz Financial Services Inc. bought a new position in shares of Crane during the 2nd quarter worth approximately $16,205,000. Lord Abbett & CO. LLC raised its holdings in shares of Crane by 13.0% in the first quarter. Lord Abbett & CO. LLC now owns 727,846 shares of the conglomerate’s stock valued at $98,354,000 after purchasing an additional 83,938 shares during the last quarter. Finally, Norden Group LLC lifted its position in shares of Crane by 1,363.7% in the first quarter. Norden Group LLC now owns 89,432 shares of the conglomerate’s stock worth $12,086,000 after purchasing an additional 83,322 shares in the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Crane Stock Performance

NYSE CR opened at $157.40 on Friday. Crane has a 12-month low of $82.57 and a 12-month high of $162.34. The firm has a 50-day moving average price of $151.71 and a two-hundred day moving average price of $144.86. The company has a market capitalization of $9.00 billion, a P/E ratio of 42.20, a P/E/G ratio of 1.93 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The firm had revenue of $581.00 million for the quarter, compared to analyst estimates of $568.33 million. Crane had a return on equity of 24.45% and a net margin of 13.10%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. Analysts anticipate that Crane will post 7.87 earnings per share for the current year.

Crane Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were given a dividend of $0.205 per share. The ex-dividend date was Friday, August 30th. This represents a $0.82 annualized dividend and a dividend yield of 0.52%. Crane’s dividend payout ratio is 21.98%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CR. Stifel Nicolaus raised their target price on shares of Crane from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Crane from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Crane has an average rating of “Moderate Buy” and a consensus price target of $155.00.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.