Bryce Point Capital LLC Makes New Investment in Crane NXT, Co. (NYSE:CXT)

Key Points

• Bryce Point Capital LLC has acquired a new stake in Crane NXT, Co. worth approximately $841,000, purchasing 15,532 shares during the first quarter.
• Crane NXT reported $0.54 EPS for its latest quarter, exceeding analyst expectations, with revenue of $330.30 million, which is a 5.3% year-over-year increase.
• The company announced a quarterly dividend of $0.17, translating to an annualized dividend yield of 1.15%.

Bryce Point Capital LLC purchased a new stake in Crane NXT, Co. (NYSE:CXT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,532 shares of the company's stock, valued at approximately $841,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp raised its position in 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 buying an additional 256 shares during the last quarter. Norges Bank purchased a new position in Crane NXT during the 4th quarter worth $26,754,000. Sei Investments Co. raised its position in Crane NXT by 15.0% during the 4th quarter. Sei Investments Co. now owns 143,307 shares of the company's stock worth $8,343,000 after buying an additional 18,735 shares during the last quarter. GAMMA Investing LLC raised its position in Crane NXT by 5,320.8% during the 1st quarter. GAMMA Investing LLC now owns 133,948 shares of the company's stock worth $6,885,000 after buying an additional 131,477 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Crane NXT by 46.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,543 shares of the company's stock worth $381,000 after buying an additional 2,074 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CXT shares. DA Davidson cut their price objective on shares of Crane NXT from $100.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, May 9th. UBS Group lowered their price target on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.75.

Crane NXT Price Performance

Shares of NYSE:CXT traded up $0.01 on Thursday, reaching $60.01. 167,522 shares of the company were exchanged, compared to its average volume of 422,072. The company has a current ratio of 1.20, a quick ratio of 0.92 and a debt-to-equity ratio of 0.49. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $67.00. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 20.62 and a beta of 1.29. The company has a 50-day moving average of $55.82 and a 200-day moving average of $54.82.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $330.30 million for the quarter, compared to analysts' expectations of $318.46 million. Crane NXT had a net margin of 11.17% and a return on equity of 21.58%. The firm's revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. Equities analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were paid a $0.17 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. Crane NXT's payout ratio is 23.37%.

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.