Cornercap Investment Counsel Inc. Lowers Holdings in Crane NXT, Co. (NYSE:CXT)

Cornercap Investment Counsel Inc. trimmed its position in shares of Crane NXT, Co. (NYSE:CXT) by 51.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,207 shares of the company’s stock after selling 4,540 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Crane NXT were worth $236,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Crane NXT by 2.8% during the third quarter. Victory Capital Management Inc. now owns 1,218,761 shares of the company’s stock valued at $68,372,000 after buying an additional 33,664 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Crane NXT by 93.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after purchasing an additional 548,155 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Crane NXT by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock valued at $66,626,000 after purchasing an additional 33,460 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Crane NXT by 18.3% in the 3rd quarter. Congress Asset Management Co. now owns 742,813 shares of the company’s stock worth $41,672,000 after purchasing an additional 114,707 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Crane NXT by 40.0% in the first quarter. Capital International Investors now owns 653,052 shares of the company’s stock worth $40,424,000 after purchasing an additional 186,437 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Price Performance

Shares of Crane NXT stock opened at $56.11 on Tuesday. The stock’s fifty day moving average is $56.05 and its 200 day moving average is $58.42. Crane NXT, Co. has a one year low of $50.31 and a one year high of $64.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.38. The stock has a market cap of $3.21 billion, a P/E ratio of 18.40 and a beta of 1.33.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $403.50 million for the quarter, compared to analysts’ expectations of $392.44 million. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Sell-side analysts anticipate that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 29th will be paid a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. Crane NXT’s dividend payout ratio (DPR) is presently 20.98%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Northland Securities lowered their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. DA Davidson restated a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research note on Monday, September 30th. Finally, Baird R W upgraded shares of Crane NXT to a “strong-buy” rating in a research note on Thursday, October 17th.

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.