Crane NXT, Co. (NYSE:CXT) Short Interest Down 10.4% in September

Crane NXT, Co. (NYSE:CXT) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 4,410,000 shares, a decline of 10.4% from the August 31st total of 4,920,000 shares. Approximately 9.0% of the shares of the stock are short sold. Based on an average trading volume of 372,900 shares, the short-interest ratio is presently 11.8 days.

Crane NXT Price Performance

NYSE CXT traded down $1.56 on Tuesday, reaching $54.54. 77,245 shares of the company’s stock traded hands, compared to its average volume of 343,045. The stock has a market cap of $3.12 billion, a PE ratio of 17.70 and a beta of 1.33. Crane NXT has a 12 month low of $48.42 and a 12 month high of $64.80. The stock has a 50-day simple moving average of $58.01 and a 200 day simple moving average of $59.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87.

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

Crane NXT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, August 30th. Crane NXT’s dividend payout ratio (DPR) is presently 20.19%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in shares of Crane NXT in the second quarter valued at about $297,000. NewEdge Advisors LLC increased its holdings in Crane NXT by 2,758.6% during the 2nd quarter. NewEdge Advisors LLC now owns 17,466 shares of the company’s stock valued at $1,073,000 after purchasing an additional 16,855 shares during the period. Algert Global LLC bought a new position in Crane NXT during the 2nd quarter valued at approximately $299,000. Susquehanna Fundamental Investments LLC purchased a new stake in Crane NXT in the 2nd quarter worth approximately $293,000. Finally, Mackenzie Financial Corp grew its position in shares of Crane NXT by 294.8% in the 2nd quarter. Mackenzie Financial Corp now owns 36,423 shares of the company’s stock worth $2,237,000 after buying an additional 27,197 shares during the last quarter. Institutional investors own 77.49% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson reissued a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a research note on Monday.

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.