Cornercap Investment Counsel Inc. Invests $991,000 in Crane NXT, Co. (NYSE:CXT)

Cornercap Investment Counsel Inc. acquired a new stake in Crane NXT, Co. (NYSE:CXT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,432 shares of the company’s stock, valued at approximately $991,000.

Other large investors have also bought and sold shares of the company. Xponance Inc. acquired a new position in Crane NXT in the third quarter valued at approximately $319,000. Hudson Bay Capital Management LP acquired a new position in Crane NXT in the third quarter valued at approximately $3,319,000. Clearbridge Investments LLC acquired a new position in Crane NXT in the third quarter valued at approximately $10,781,000. Swiss National Bank acquired a new position in Crane NXT in the third quarter valued at approximately $5,890,000. Finally, Signaturefd LLC acquired a new position in Crane NXT in the third quarter valued at approximately $109,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Stock Performance

Shares of CXT stock opened at $61.04 on Tuesday. The stock has a market cap of $3.49 billion, a P/E ratio of 18.67 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.93 and a quick ratio of 1.46. The company has a fifty day moving average price of $59.92 and a two-hundred day moving average price of $56.22. Crane NXT, Co. has a one year low of $45.63 and a one year high of $63.36.

Crane NXT (NYSE:CXT) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The firm had revenue of $356.90 million during the quarter, compared to analysts’ expectations of $340.89 million. Crane NXT had a net margin of 13.53% and a return on equity of 20.33%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.13 earnings per share. As a group, equities analysts predict that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from Crane NXT’s previous quarterly dividend of $0.14. Crane NXT’s dividend payout ratio (DPR) is currently 19.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CXT shares. DA Davidson upped their target price on shares of Crane NXT from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Northland Securities started coverage on shares of Crane NXT in a research note on Monday, April 8th. They issued an “outperform” rating and a $91.00 target price 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.