Exchange Traded Concepts LLC Takes Position in Crane NXT, Co. (NYSE:CXT)

Exchange Traded Concepts LLC bought a new position in Crane NXT, Co. (NYSE:CXT) during the third quarter, Holdings Channel reports. The firm bought 41,631 shares of the company’s stock, valued at approximately $2,335,000.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Crane NXT by 9.8% in the second quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock worth $134,000 after purchasing an additional 195 shares during the last quarter. Blue Trust Inc. raised its position in Crane NXT by 27.8% in the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after buying an additional 205 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Crane NXT by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after acquiring an additional 265 shares in the last quarter. Arizona State Retirement System boosted its holdings in Crane NXT by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 13,548 shares of the company’s stock worth $832,000 after acquiring an additional 279 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Crane NXT by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 11,872 shares of the company’s stock worth $735,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Up 0.0 %

NYSE CXT opened at $55.08 on Tuesday. The business’s fifty day moving average is $56.73 and its 200-day moving average is $59.37. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 17.38 and a beta of 1.32. Crane NXT, Co. has a one year low of $48.42 and a one year high of $64.80.

Crane NXT (NYSE:CXT) last released its earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The firm had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $367.08 million. During the same period in the previous year, the company earned $1.12 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that Crane NXT, Co. will post 4.28 EPS for the current year.

Crane NXT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were paid a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Crane NXT’s payout ratio is presently 20.19%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CXT shares. Northland Securities cut their price target on shares of Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. DA Davidson restated a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research note on Monday, September 30th.

Crane NXT Company 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.