Hotchkis & Wiley Capital Management LLC Has $10.70 Million Stock Position in Crane NXT, Co. $CXT

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Crane NXT, Co. by 13.7% during Q1, owning approximately $10.7 million worth of the stock after selling shares.
• Crane NXT recently announced a quarterly dividend of $0.17 per share, representing an annualized yield of 1.1%.
• Analyst ratings for Crane NXT include a mixed outlook with one "Strong Buy," two "Buy," and three "Hold," placing its average rating at "Moderate Buy" with a consensus price target of $73.75.

Hotchkis & Wiley Capital Management LLC cut its position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 208,243 shares of the company's stock after selling 33,157 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.36% of Crane NXT worth $10,704,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of Crane NXT during the fourth quarter worth $26,000. UMB Bank n.a. increased its position in shares of Crane NXT by 87.2% during the first quarter. UMB Bank n.a. now owns 702 shares of the company's stock worth $36,000 after buying an additional 327 shares during the period. Quarry LP acquired a new stake in shares of Crane NXT during the fourth quarter worth $42,000. Fifth Third Bancorp increased its position in shares of Crane NXT by 46.0% during the first quarter. Fifth Third Bancorp now owns 812 shares of the company's stock worth $42,000 after buying an additional 256 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Crane NXT during the first quarter worth $44,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CXT has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of Crane NXT from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. DA Davidson reiterated a "buy" rating and set a $85.00 price objective on shares of Crane NXT in a research report 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 given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Stock Up 5.2%

Shares of NYSE CXT opened at $63.2770 on Friday. The firm has a market cap of $3.63 billion, a PE ratio of 24.15 and a beta of 1.33. Crane NXT, Co. has a 12-month low of $41.54 and a 12-month high of $67.00. The company's fifty day simple moving average is $57.69 and its 200 day simple moving average is $54.22. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.73.

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

Crane NXT Announces Dividend

The business 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 of this dividend is Friday, August 29th. This represents a $0.68 annualized dividend and a yield of 1.1%. Crane NXT's dividend payout ratio is currently 25.95%.

About Crane NXT

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.

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