Anchor Capital Advisors LLC Raises Holdings in Crane NXT, Co. (NYSE:CXT)

Anchor Capital Advisors LLC boosted its stake in Crane NXT, Co. (NYSE:CXT) by 87.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,530 shares of the company’s stock after purchasing an additional 7,249 shares during the period. Anchor Capital Advisors LLC’s holdings in Crane NXT were worth $883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC bought a new position in Crane NXT in the 3rd quarter worth $28,000. Acadian Asset Management LLC purchased a new position in shares of Crane NXT during the 3rd quarter worth approximately $28,000. New England Capital Financial Advisors LLC bought a new position in shares of Crane NXT in the 3rd quarter worth approximately $36,000. CI Investments Inc. bought a new stake in shares of Crane NXT during the third quarter valued at approximately $53,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Crane NXT in the third quarter worth $82,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Trading Down 2.8 %

Crane NXT stock opened at $60.81 on Wednesday. The stock has a market capitalization of $3.47 billion, a PE ratio of 18.60 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 business’s fifty day moving average is $60.55 and its 200 day moving average is $56.83. Crane NXT, Co. has a one year low of $46.14 and a one year high of $63.89.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.07. Crane NXT had a return on equity of 20.33% and a net margin of 13.53%. The company had revenue of $356.90 million for the quarter, compared to analysts’ expectations of $340.89 million. During the same period in the previous year, the firm earned $2.13 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Crane NXT, Co. will post 4.26 EPS for the current year.

Crane NXT Increases Dividend

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

Analyst Upgrades and Downgrades

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

Crane NXT 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.