Bessemer Group Inc. Grows Position in Crane NXT, Co. (NYSE:CXT)

Bessemer Group Inc. increased its position in Crane NXT, Co. (NYSE:CXT) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 275,892 shares of the company’s stock after purchasing an additional 18,050 shares during the quarter. Bessemer Group Inc. owned approximately 0.48% of Crane NXT worth $17,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CXT. Vanguard Group Inc. purchased a new position in Crane NXT during the third quarter valued at $306,517,000. Victory Capital Management Inc. raised its stake in Crane NXT by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,235,343 shares of the company’s stock valued at $70,254,000 after buying an additional 49,106 shares during the last quarter. Wellington Management Group LLP purchased a new position in Crane NXT during the fourth quarter valued at $66,550,000. Dimensional Fund Advisors LP raised its stake in Crane NXT by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 983,351 shares of the company’s stock valued at $55,926,000 after buying an additional 85,876 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in 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 buying an additional 697,808 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Up 1.0 %

Shares of CXT stock traded up $0.59 during mid-day trading on Thursday, hitting $61.31. The company’s stock had a trading volume of 32,672 shares, compared to its average volume of 325,953. Crane NXT, Co. has a 52-week low of $48.42 and a 52-week high of $64.80. The business has a 50-day moving average price of $60.52 and a 200 day moving average price of $59.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.56 and a current ratio of 2.12. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 19.15 and a beta of 1.34.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Crane NXT had a return on equity of 25.50% and a net margin of 13.26%. The business had revenue of $313.60 million during the quarter, compared to analysts’ expectations of $311.72 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Research analysts predict that Crane NXT, Co. will post 4.3 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, May 31st. Crane NXT’s payout ratio is currently 20.19%.

Wall Street Analysts Forecast Growth

Separately, Northland Securities assumed coverage on Crane NXT in a research note on Monday, April 8th. They issued an “outperform” rating and a $91.00 price target for the company.

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.