Strs Ohio Purchases New Stake in Crane NXT, Co. $CXT

Key Points

• Strs Ohio has acquired a new stake in Crane NXT, Co. (NYSE:CXT), purchasing 109,152 shares valued at approximately $5.61 million, which represents about 0.19% of the company's stock.
• Analysts have a consensus rating of Moderate Buy for Crane NXT, with a price target of $73.75, indicating potential growth for the company's stock.
• Crane NXT recently reported a quarterly earnings of $0.97 EPS, exceeding analyst expectations, alongside a dividend yield of 1.1% following a quarterly payment of $0.17.

Strs Ohio purchased a new position in shares of Crane NXT, Co. (NYSE:CXT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 109,152 shares of the company's stock, valued at approximately $5,610,000. Strs Ohio owned 0.19% of Crane NXT as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CXT. Ameriprise Financial Inc. boosted its position in Crane NXT by 173.3% during the 1st quarter. Ameriprise Financial Inc. now owns 1,084,625 shares of the company's stock worth $55,750,000 after acquiring an additional 687,738 shares during the period. Wellington Management Group LLP boosted its position in Crane NXT by 16.2% during the 1st quarter. Wellington Management Group LLP now owns 3,668,953 shares of the company's stock worth $188,584,000 after acquiring an additional 512,813 shares during the period. Conestoga Capital Advisors LLC boosted its position in Crane NXT by 83.5% during the 1st quarter. Conestoga Capital Advisors LLC now owns 993,154 shares of the company's stock worth $51,048,000 after acquiring an additional 451,814 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Crane NXT during the 1st quarter worth $9,931,000. Finally, Victory Capital Management Inc. boosted its position in Crane NXT by 13.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,367,931 shares of the company's stock worth $70,312,000 after acquiring an additional 161,417 shares during the period. Institutional investors and hedge funds own 77.49% of the company's stock.

Analyst Ratings Changes

Separately, DA Davidson reiterated a "buy" rating and set a $85.00 price target on shares of Crane NXT in a research report on Monday. One 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's stock. According to MarketBeat, Crane NXT currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.75.

Crane NXT Trading Down 2.1%

Shares of Crane NXT stock traded down $1.21 on Friday, reaching $56.41. 738,997 shares of the company were exchanged, compared to its average volume of 398,914. The stock has a fifty day moving average price of $59.43 and a 200-day moving average price of $54.48. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 21.53 and a beta of 1.37. 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 fifty-two week low of $41.54 and a fifty-two week high of $67.00.

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

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Crane NXT's payout ratio is presently 25.95%.

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.