Algert Global LLC Acquires Shares of 4,876 Crane NXT, Co. (NYSE:CXT)

Algert Global LLC bought a new position in shares of Crane NXT, Co. (NYSE:CXT) during the second quarter, according to its most recent filing with the SEC. The fund bought 4,876 shares of the company’s stock, valued at approximately $299,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Trust Advisors LP grew its position in shares of Crane NXT by 16.0% during the 4th quarter. First Trust Advisors LP now owns 473,808 shares of the company’s stock valued at $26,945,000 after acquiring an additional 65,333 shares during the period. Congress Asset Management Co. MA purchased a new stake in Crane NXT during the fourth quarter valued at about $987,000. Wellington Management Group LLP bought a new position in Crane NXT during the fourth quarter worth about $66,550,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Crane NXT in the fourth quarter valued at approximately $3,526,000. Finally, HighPoint Advisor Group LLC bought a new position in Crane NXT in the 4th quarter worth approximately $418,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Trading Down 1.2 %

Shares of CXT stock opened at $53.73 on Wednesday. Crane NXT, Co. has a 52-week low of $48.42 and a 52-week high of $64.80. The business’s fifty day moving average is $57.30 and its 200 day moving average is $59.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.20. The company has a market capitalization of $3.07 billion, a PE ratio of 16.95 and a beta of 1.32.

Crane NXT (NYSE:CXT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The firm had revenue of $370.60 million during the quarter, compared to the consensus estimate of $367.08 million. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. On average, equities research analysts anticipate that Crane NXT, Co. will post 4.28 EPS for the current fiscal year.

Crane NXT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, August 30th. Crane NXT’s payout ratio is 20.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. DA Davidson reaffirmed a “buy” rating and issued a $100.00 price target on shares of Crane NXT in a report on Monday, September 30th. Northland Securities decreased their target price on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday.

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.