Crane NXT (NYSE:CXT) Hits New 1-Year Low – What’s Next?

Crane NXT, Co. (NYSE:CXT)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $41.64 and last traded at $42.27, with a volume of 486071 shares changing hands. The stock had previously closed at $44.12.

Wall Street Analysts Forecast Growth

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

Crane NXT Stock Down 4.2 %

The company has a market capitalization of $2.42 billion, a PE ratio of 13.25 and a beta of 1.21. The company’s 50 day moving average is $56.27 and its two-hundred day moving average is $57.72. The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were given a $0.17 dividend. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT’s dividend payout ratio is 21.32%.

Hedge Funds Weigh In On Crane NXT

Large investors have recently bought and sold shares of the business. Stifel Financial Corp boosted its holdings in shares of Crane NXT by 60.6% in the third quarter. Stifel Financial Corp now owns 43,627 shares of the company’s stock valued at $2,448,000 after purchasing an additional 16,465 shares during the period. Park Avenue Securities LLC purchased a new position in shares of Crane NXT in the fourth quarter worth about $527,000. Barclays PLC lifted its position in Crane NXT by 45.3% during the third quarter. Barclays PLC now owns 37,663 shares of the company’s stock valued at $2,113,000 after purchasing an additional 11,734 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Crane NXT by 12.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 396,152 shares of the company’s stock valued at $22,224,000 after purchasing an additional 43,439 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Crane NXT by 437.3% in the 3rd quarter. Jane Street Group LLC now owns 67,092 shares of the company’s stock valued at $3,764,000 after purchasing an additional 54,606 shares in the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

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.