Crane NXT (NYSE:CXT) Sets New 12-Month Low - Here's Why

Crane NXT, Co. (NYSE:CXT - Get Free Report) shares reached a new 52-week low on Wednesday . The stock traded as low as $50.23 and last traded at $51.55, with a volume of 390460 shares trading hands. The stock had previously closed at $51.40.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Northland Securities cut Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price for the company. in a research note on Tuesday, February 18th. Northland Capmk lowered Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.33.

Crane NXT Stock Performance

The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 14.12 and a beta of 1.21. The stock has a 50-day moving average of $56.66 and a 200-day moving average of $57.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14.

Crane NXT (NYSE:CXT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating 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%. As a group, analysts anticipate that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were given a $0.17 dividend. This is an increase from Crane NXT's previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.51%. Crane NXT's dividend payout ratio is presently 21.32%.

Institutional Trading of Crane NXT

Hedge funds have recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in shares of Crane NXT in the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Crane NXT during the 3rd quarter worth $32,000. Fifth Third Bancorp lifted its holdings in shares of Crane NXT by 98.6% in the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company's stock worth $32,000 after acquiring an additional 276 shares during the last quarter. Quarry LP bought a new position in Crane NXT in the 4th quarter valued at approximately $42,000. Finally, Covestor Ltd boosted its holdings in shares of Crane NXT by 38.6% during the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock valued at $43,000 after acquiring an additional 206 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

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.