Crane NXT (NYSE:CXT) Hits New 52-Week Low – Here’s Why

Crane NXT, Co. (NYSE:CXT)’s stock price hit 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 changing hands. The stock had previously closed at $52.31.

Analyst Ratings Changes

Several equities analysts recently weighed in on CXT shares. Northland Capmk downgraded Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities downgraded shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 target price for the company. in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

Crane NXT Stock Down 2.5 %

The company has a current ratio of 1.14, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 16.09 and a beta of 1.32. The firm has a 50 day moving average price of $58.21 and a two-hundred day moving average price of $58.10.

Crane NXT (NYSE:CXT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. On average, equities analysts expect that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 28th were given a $0.17 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.33%. Crane NXT’s dividend payout ratio (DPR) is 21.32%.

Institutional Investors Weigh In On Crane NXT

Several institutional investors and hedge funds have recently modified their holdings of CXT. FMR LLC lifted its position in Crane NXT by 4.1% during the 4th quarter. FMR LLC now owns 8,576,731 shares of the company’s stock worth $499,337,000 after acquiring an additional 336,765 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Crane NXT by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock worth $345,303,000 after purchasing an additional 66,800 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Crane NXT by 2.4% in the fourth quarter. Wellington Management Group LLP now owns 3,156,140 shares of the company’s stock valued at $183,750,000 after purchasing an additional 72,992 shares during the period. State Street Corp grew its holdings in Crane NXT by 1.6% during the 3rd quarter. State Street Corp now owns 1,443,518 shares of the company’s stock valued at $80,981,000 after purchasing an additional 22,041 shares in the last quarter. Finally, Capital International Investors increased its stake in Crane NXT by 79.3% during the 4th quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock worth $78,658,000 after buying an additional 597,537 shares during the period. Hedge funds and other 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.