Dark Forest Capital Management LP Acquires Shares of 12,146 Crane NXT, Co. (NYSE:CXT)

Dark Forest Capital Management LP acquired a new stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,146 shares of the company's stock, valued at approximately $707,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its stake in Crane NXT by 98.6% during 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. Wilmington Savings Fund Society FSB acquired a new position in shares of Crane NXT during the 3rd quarter valued at $32,000. Covestor Ltd boosted its position in Crane NXT by 38.6% during the 4th quarter. Covestor Ltd now owns 739 shares of the company's stock worth $43,000 after purchasing an additional 206 shares during the period. Venturi Wealth Management LLC increased its holdings in Crane NXT by 985.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company's stock valued at $95,000 after purchasing an additional 1,488 shares in the last quarter. Finally, Cascade Financial Partners LLC purchased a new stake in shares of Crane NXT during the 4th quarter valued at about $202,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Stock Performance

Shares of NYSE:CXT traded down $0.89 during trading hours on Wednesday, hitting $46.31. The stock had a trading volume of 48,254 shares, compared to its average volume of 383,697. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.01. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 14.53 and a beta of 1.21. The stock's fifty day simple moving average is $50.36 and its 200 day simple moving average is $56.35. 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 earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. Sell-side analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.47%. This is a boost from Crane NXT's previous quarterly dividend of $0.16. Crane NXT's dividend payout ratio is currently 21.32%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 price objective on the stock. in a report on Tuesday, February 18th. Northland Capmk downgraded shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Crane NXT presently has an average rating of "Moderate Buy" and a consensus target price of $83.33.

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.