Crane NXT, Co. $CXT Stake Lessened by Strs Ohio

Key Points

• Strs Ohio sharply reduced its stake in Crane NXT by 98.6% in the fourth quarter, selling 81,998 shares and leaving it with 1,173 shares worth about $55,000.
• Crane NXT reported better-than-expected quarterly results, posting EPS of $0.60 versus $0.56 expected and revenue of $387.7 million versus $378.6 million expected, with revenue up 17.4% year over year.
• The company declared a quarterly dividend of $0.18 per share, and analysts currently rate the stock a consensus Moderate Buy with a target price of $67.40.

Strs Ohio cut its stake in Crane NXT, Co. (NYSE:CXT - Free Report) by 98.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,173 shares of the company's stock after selling 81,998 shares during the period. Strs Ohio's holdings in Crane NXT were worth $55,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. US Bancorp DE increased its holdings in shares of Crane NXT by 2.0% in the 3rd quarter. US Bancorp DE now owns 8,445 shares of the company's stock valued at $566,000 after acquiring an additional 169 shares during the last quarter. Whittier Trust Co. lifted its position in Crane NXT by 8.5% in the 3rd quarter. Whittier Trust Co. now owns 2,170 shares of the company's stock valued at $144,000 after purchasing an additional 170 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Crane NXT by 6.3% in the third quarter. CIBC Private Wealth Group LLC now owns 3,472 shares of the company's stock valued at $233,000 after purchasing an additional 206 shares during the period. Smartleaf Asset Management LLC increased its position in Crane NXT by 141.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company's stock valued at $25,000 after acquiring an additional 228 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Crane NXT by 0.6% during the second quarter. California State Teachers Retirement System now owns 44,954 shares of the company's stock valued at $2,423,000 after purchasing an additional 271 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Stock Performance

Shares of NYSE CXT opened at $42.65 on Wednesday. The stock's fifty day simple moving average is $43.82 and its 200 day simple moving average is $50.42. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 19.04 and a beta of 1.21. The company has a quick ratio of 0.99, a current ratio of 1.33 and a debt-to-equity ratio of 1.02. Crane NXT, Co. has a 52-week low of $39.23 and a 52-week high of $69.00.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. The business had revenue of $387.70 million during the quarter, compared to the consensus estimate of $378.63 million. Crane NXT had a return on equity of 19.59% and a net margin of 7.57%.Crane NXT's revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 earnings per share. Crane NXT has set its FY 2026 guidance at 4.100-4.400 EPS. As a group, sell-side analysts forecast that Crane NXT, Co. will post 4.26 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Sunday, May 31st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 29th. Crane NXT's dividend payout ratio (DPR) is presently 32.14%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Zacks Research cut Crane NXT from a "hold" rating to a "strong sell" rating in a report on Friday, April 17th. Robert W. Baird set a $67.00 price objective on shares of Crane NXT in a research report on Friday. Oppenheimer lowered their price objective on shares of Crane NXT from $80.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 15th. UBS Group set a $58.00 target price on shares of Crane NXT in a report on Friday, February 13th. Finally, Northland Securities set a $62.00 target price on shares of Crane NXT in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $67.40.

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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.

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