Cornercap Investment Counsel Inc. Raises Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Cornercap Investment Counsel Inc. raised its position in shares of Crane NXT, Co. (NYSE:CXT) by 83.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,714 shares of the company’s stock after purchasing an additional 3,507 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Crane NXT were worth $449,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CXT. Wilmington Savings Fund Society FSB purchased a new position in Crane NXT during the 3rd quarter worth approximately $32,000. Fifth Third Bancorp raised its holdings in shares of Crane NXT by 98.6% during the fourth quarter. Fifth Third Bancorp now owns 556 shares of the company’s stock worth $32,000 after purchasing an additional 276 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Crane NXT by 985.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,639 shares of the company’s stock valued at $95,000 after acquiring an additional 1,488 shares during the period. Cascade Financial Partners LLC purchased a new stake in Crane NXT during the fourth quarter worth $202,000. Finally, Oak Thistle LLC purchased a new stake in shares of Crane NXT during the 4th quarter worth about $203,000. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Stock Performance

CXT opened at $51.32 on Friday. Crane NXT, Co. has a twelve month low of $50.87 and a twelve month high of $67.01. The firm has a market capitalization of $2.94 billion, a PE ratio of 16.09 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. The firm’s 50-day moving average price is $58.21 and its 200 day moving average price is $58.12.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 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%. As a group, sell-side analysts expect that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors 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 1.33%. This is a positive change from Crane NXT’s previous quarterly dividend of $0.16. Crane NXT’s dividend payout ratio is currently 21.32%.

Wall Street Analysts Forecast Growth

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

Crane NXT Company 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.