Mutual of America Capital Management LLC Trims Stake in Crane NXT, Co. (NYSE:CXT)

Mutual of America Capital Management LLC reduced its holdings in shares of Crane NXT, Co. (NYSE:CXT - Free Report) by 52.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,829 shares of the company's stock after selling 32,833 shares during the period. Mutual of America Capital Management LLC owned 0.05% of Crane NXT worth $1,696,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FMR LLC bought a new position in Crane NXT in the third quarter worth approximately $402,528,000. Vanguard Group Inc. purchased a new position in shares of Crane NXT in the 3rd quarter worth approximately $306,517,000. Victory Capital Management Inc. bought a new position in shares of Crane NXT in the third quarter valued at approximately $65,919,000. Lord Abbett & CO. LLC purchased a new stake in shares of Crane NXT during the third quarter valued at approximately $39,749,000. Finally, Pacer Advisors Inc. increased its position in shares of Crane NXT by 8,855.4% during the fourth quarter. Pacer Advisors Inc. now owns 705,688 shares of the company's stock valued at $40,132,000 after acquiring an additional 697,808 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Price Performance

Shares of NYSE CXT traded up $0.48 during midday trading on Monday, hitting $61.81. 289,572 shares of the company's stock were exchanged, compared to its average volume of 349,036. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.66. The business's fifty day moving average price is $60.13 and its two-hundred day moving average price is $56.48. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 18.90 and a beta of 1.37. Crane NXT, Co. has a 12-month low of $46.14 and a 12-month high of $63.36.

Crane NXT (NYSE:CXT - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.07. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The company had revenue of $356.90 million during the quarter, compared to analyst estimates of $340.89 million. During the same period in the previous year, the business earned $2.13 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Crane NXT, Co. will post 4.26 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Thursday, February 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.04%. This is a positive change from Crane NXT's previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 28th. Crane NXT's dividend payout ratio is presently 19.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CXT shares. Northland Securities assumed coverage on shares of Crane NXT in a report on Monday, April 8th. They issued an "outperform" rating and a $91.00 price target on the stock. DA Davidson upped their price target on Crane NXT from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, March 18th.

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.