Crane NXT, Co. (NYSE:CXT) Short Interest Update

Crane NXT, Co. (NYSE:CXT) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 4,410,000 shares, a drop of 10.4% from the August 31st total of 4,920,000 shares. Approximately 9.0% of the shares of the company are short sold. Based on an average daily trading volume, of 372,900 shares, the days-to-cover ratio is currently 11.8 days.

Institutional Trading of Crane NXT

Hedge funds have recently modified their holdings of the company. Congress Wealth Management LLC DE purchased a new stake in shares of Crane NXT during the 1st quarter worth approximately $5,633,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Crane NXT during the 4th quarter worth approximately $3,526,000. Congress Asset Management Co. MA raised its holdings in shares of Crane NXT by 3,331.1% during the 1st quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock worth $36,855,000 after acquiring an additional 578,043 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Crane NXT during the 4th quarter worth approximately $66,550,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Crane NXT during the 2nd quarter worth approximately $748,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Stock Performance

NYSE CXT traded up $0.06 during trading hours on Friday, hitting $55.79. The company’s stock had a trading volume of 334,965 shares, compared to its average volume of 344,171. The company’s 50 day simple moving average is $58.12 and its two-hundred day simple moving average is $59.82. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 0.87. Crane NXT has a 12 month low of $48.42 and a 12 month high of $64.80. The company has a market cap of $3.19 billion, a P/E ratio of 17.60 and a beta of 1.33.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a return on equity of 24.25% and a net margin of 12.97%. The company had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $367.08 million. During the same period in the previous year, the firm earned $1.12 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that Crane NXT will post 4.28 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were issued a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.15%. Crane NXT’s dividend payout ratio is presently 20.19%.

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.