Crane NXT, Co. $CXT Shares Purchased by Keeley Teton Advisors LLC

Key Points

• Keeley Teton Advisors LLC increased its stake in Crane NXT, Co. by 3.6% in the first quarter, holding approximately $8.66 million, which accounts for about 1.0% of its investment portfolio.
• Crane NXT is set to pay a quarterly dividend of $0.17 per share on September 10th, with a dividend yield of 1.1% and a payout ratio of 25.95%.
• The company's recent quarterly earnings exceeded estimates with reported earnings per share of $0.97 and revenue of $404.40 million, surpassing forecasts by $21.61 million.

Keeley Teton Advisors LLC lifted its position in Crane NXT, Co. (NYSE:CXT - Free Report) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,419 shares of the company's stock after purchasing an additional 5,893 shares during the quarter. Crane NXT makes up 1.0% of Keeley Teton Advisors LLC's investment portfolio, making the stock its 9th biggest holding. Keeley Teton Advisors LLC owned about 0.29% of Crane NXT worth $8,657,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in shares of Crane NXT in the 4th quarter valued at approximately $26,000. UMB Bank n.a. raised its holdings in 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 purchasing an additional 327 shares during the last quarter. Quarry LP purchased a new position in Crane NXT during the fourth quarter worth $42,000. Fifth Third Bancorp increased its position in 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 in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Crane NXT during the first quarter worth $44,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Stock Down 1.0%

NYSE CXT traded down $0.60 during trading on Friday, hitting $59.69. 392,319 shares of the company traded hands, compared to its average volume of 443,507. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $67.00. The business has a fifty day simple moving average of $58.27 and a 200 day simple moving average of $54.22. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.43 billion, a P/E ratio of 22.78 and a beta of 1.33.

Crane NXT (NYSE:CXT - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $404.40 million for the quarter, compared to the consensus estimate of $382.79 million. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. As a group, sell-side analysts predict that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be 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 is Friday, August 29th. Crane NXT's payout ratio is presently 25.95%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CXT shares. UBS Group lowered their price objective on 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 issued a $85.00 price target on shares of Crane NXT in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.75.

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.