Crane NXT (NYSE:CXT) Sets New 12-Month Low – What’s Next?

Crane NXT, Co. (NYSE:CXT)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $51.69 and last traded at $51.90, with a volume of 4070 shares. The stock had previously closed at $52.31.

Analyst Ratings Changes

A number of brokerages have issued reports on CXT. Northland Capmk lowered shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target on the stock. in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Crane NXT presently has an average rating of “Moderate Buy” and a consensus price target of $83.33.

Crane NXT Price Performance

The company’s 50-day moving average is $58.67 and its 200-day moving average is $58.17. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 16.49 and a beta of 1.32. The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51.

Crane NXT (NYSE:CXT) last issued its quarterly 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 return on equity of 24.08% and a net margin of 12.38%. Equities research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were issued a $0.17 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio is 21.32%.

Hedge Funds Weigh In On Crane NXT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC bought a new stake in shares of Crane NXT during the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new stake in Crane NXT during the 3rd quarter worth $32,000. Fifth Third Bancorp increased its holdings in Crane NXT by 98.6% in the 4th quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after purchasing an additional 276 shares in the last quarter. Quarry LP acquired a new stake in shares of Crane NXT during the fourth quarter valued at about $42,000. Finally, Covestor Ltd boosted its stake in shares of Crane NXT by 38.6% during the fourth quarter. Covestor Ltd now owns 739 shares of the company’s stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. 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.