Aristeia Capital L.L.C. Purchases Shares of 4,529 Crane NXT, Co. $CXT

Key Points

• Aristeia Capital L.L.C. has acquired a new position in Crane NXT, Co. with 4,529 shares valued at approximately $233,000 during the first quarter.
• Institutional investors now own 77.49% of Crane NXT's stock, with notable increases in holdings from Northern Trust Corp and Ameriprise Financial Inc., indicating strong interest from large investment firms.
• Crane NXT announced a quarterly dividend of $0.17 per share, representing a 1.1% yield, to be paid on September 10th, highlighting its commitment to returning value to shareholders.

Aristeia Capital L.L.C. purchased a new position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,529 shares of the company's stock, valued at approximately $233,000.

Other hedge funds have also made changes to their positions in the company. Northern Trust Corp grew its stake in Crane NXT by 19.8% during the 4th quarter. Northern Trust Corp now owns 450,996 shares of the company's stock worth $26,257,000 after buying an additional 74,580 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Crane NXT by 9.8% in the 4th quarter. Ameriprise Financial Inc. now owns 396,887 shares of the company's stock worth $23,104,000 after acquiring an additional 35,388 shares during the period. BNP Paribas Financial Markets bought a new stake in Crane NXT in the 4th quarter valued at about $1,597,000. Baird Financial Group Inc. boosted its stake in Crane NXT by 14.0% during the 4th quarter. Baird Financial Group Inc. now owns 43,994 shares of the company's stock valued at $2,561,000 after purchasing an additional 5,402 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in Crane NXT during the 4th quarter valued at about $2,976,000. Institutional investors own 77.49% of the company's stock.

Crane NXT Price Performance

Shares of CXT stock traded down $1.54 during midday trading on Friday, reaching $60.39. 376,945 shares of the company were exchanged, compared to its average volume of 374,707. The company's 50 day moving average price is $59.40 and its two-hundred day moving average price is $54.38. The company has a market cap of $3.47 billion, a P/E ratio of 23.05 and a beta of 1.37. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.89 and a current ratio of 1.20.

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. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%.The firm had revenue of $404.40 million for the quarter, compared to analysts' expectations of $382.79 million. On average, sell-side analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, DA Davidson restated a "buy" rating and issued a $85.00 price target on shares of Crane NXT in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Crane NXT currently has an average rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT 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.