Aristeia Capital L.L.C. Invests $233,000 in 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. acquired a new position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,529 shares of the company's stock, valued at approximately $233,000.

Several other large investors have also modified their holdings of the stock. Deutsche Bank AG lifted its holdings in shares of Crane NXT by 3.0% during the 4th quarter. Deutsche Bank AG now owns 5,831 shares of the company's stock worth $339,000 after acquiring an additional 168 shares during the period. FourThought Financial Partners LLC lifted its holdings in shares of Crane NXT by 4.6% during the 1st quarter. FourThought Financial Partners LLC now owns 4,909 shares of the company's stock worth $252,000 after acquiring an additional 216 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Crane NXT by 46.0% during the 1st quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after acquiring an additional 256 shares during the period. UMB Bank n.a. lifted its holdings in shares of Crane NXT by 87.2% during the 1st quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after acquiring an additional 327 shares during the period. Finally, EP Wealth Advisors LLC raised its holdings in Crane NXT by 8.0% in the first 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 currently owned by hedge funds and other institutional investors.

Crane NXT Stock Down 2.5%

NYSE:CXT traded down $1.54 during trading hours on Friday, hitting $60.39. The stock had a trading volume of 376,945 shares, compared to its average volume of 371,044. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.00. The business has a 50 day simple moving average of $59.40 and a two-hundred day simple moving average of $54.37. The company has a market cap of $3.47 billion, a PE ratio of 23.05 and a beta of 1.37.

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

Crane NXT Announces Dividend

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

Wall Street Analysts Forecast Growth

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