Ancora Advisors LLC Sells 10,983 Shares of Crane NXT, Co. $CXT

Key Points

• Ancora Advisors LLC reduced its stake in Crane NXT, Co. by 3.6% in Q1 2023, owning approximately 0.51% of the company after selling 10,983 shares.
• Crane NXT reported a net margin of 9.84% and revenue of $404.40 million in its latest quarterly earnings, surpassing analysts' estimates.
• The company declared a quarterly dividend of $0.17 per share, representing a yield of 1.1%, with the ex-dividend date set for August 29th.

Ancora Advisors LLC cut its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 292,293 shares of the company's stock after selling 10,983 shares during the period. Ancora Advisors LLC owned approximately 0.51% of Crane NXT worth $15,024,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CXT. Deutsche Bank AG increased its position in shares of Crane NXT by 3.0% in the fourth quarter. Deutsche Bank AG now owns 5,831 shares of the company's stock worth $339,000 after acquiring an additional 168 shares in the last quarter. FourThought Financial Partners LLC lifted its position in shares of Crane NXT by 4.6% in the first quarter. FourThought Financial Partners LLC now owns 4,909 shares of the company's stock worth $252,000 after purchasing an additional 216 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Crane NXT by 46.0% in the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after purchasing an additional 256 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Crane NXT by 87.2% in the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after purchasing an additional 327 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of Crane NXT by 8.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,682 shares of the company's stock valued at $241,000 after buying an additional 346 shares during the period. 77.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CXT shares. UBS Group decreased their target price on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. DA Davidson reissued a "buy" rating and issued a $85.00 price target on shares of Crane NXT in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Performance

Shares of CXT stock traded down $0.61 during trading on Friday, reaching $61.11. The company had a trading volume of 474,229 shares, compared to its average volume of 395,916. The firm's 50 day simple moving average is $58.87 and its two-hundred day simple moving average is $54.27. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.20 and a quick ratio of 0.89. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.00. The company has a market capitalization of $3.51 billion, a PE ratio of 23.32 and a beta of 1.37.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The firm had revenue of $404.40 million for the quarter, compared to the consensus estimate of $382.79 million. Crane NXT had a net margin of 9.84% and a return on equity of 20.22%. Sell-side analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 1.1%. Crane NXT's dividend payout ratio is presently 25.95%.

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.