MML Investors Services LLC Makes New $2 Million Investment in Crane NXT, Co. (NYSE:CXT)

MML Investors Services LLC purchased a new stake in shares of Crane NXT, Co. (NYSE:CXT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 34,377 shares of the company's stock, valued at approximately $2,001,000. MML Investors Services LLC owned about 0.06% of Crane NXT as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CXT. Capital International Investors lifted its position in Crane NXT by 79.3% in the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company's stock valued at $78,658,000 after acquiring an additional 597,537 shares in the last quarter. Conestoga Capital Advisors LLC bought a new stake in Crane NXT in the 4th quarter worth about $31,517,000. Norges Bank purchased a new position in Crane NXT in the 4th quarter worth about $26,754,000. FMR LLC lifted its stake in Crane NXT by 4.1% during the 4th quarter. FMR LLC now owns 8,576,731 shares of the company's stock valued at $499,337,000 after acquiring an additional 336,765 shares during the period. Finally, Capital World Investors purchased a new stake in shares of Crane NXT during the 4th quarter valued at about $10,719,000. Institutional investors own 77.49% of the company's stock.

Crane NXT Stock Performance

Shares of NYSE CXT traded up $1.13 during midday trading on Friday, hitting $48.14. 223,100 shares of the company's stock traded hands, compared to its average volume of 387,056. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.88 and a current ratio of 1.14. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 15.09 and a beta of 1.27. The firm has a fifty day moving average of $49.74 and a 200 day moving average of $56.18. Crane NXT, Co. has a 1 year low of $41.54 and a 1 year high of $67.01.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. On average, analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from Crane NXT's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.41%. Crane NXT's payout ratio is 21.32%.

Wall Street Analyst Weigh In

CXT has been the topic of a number of research analyst reports. Northland Capmk downgraded shares of Crane NXT from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an "outperform" rating to a "market perform" rating and set a $72.00 target price for the company. in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Crane NXT has an average rating of "Moderate Buy" and a consensus target price of $83.33.

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.