Amalgamated Bank Trims Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Amalgamated Bank reduced its stake in Crane NXT, Co. (NYSE:CXT) by 25.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,717 shares of the company’s stock after selling 7,792 shares during the period. Amalgamated Bank’s holdings in Crane NXT were worth $1,274,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Crane NXT by 9.8% during the second quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $134,000 after buying an additional 195 shares during the last quarter. Blue Trust Inc. lifted its holdings in Crane NXT by 27.8% in the second quarter. Blue Trust Inc. now owns 942 shares of the company’s stock valued at $58,000 after acquiring an additional 205 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Crane NXT by 16.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,887 shares of the company’s stock valued at $116,000 after acquiring an additional 265 shares during the period. Arizona State Retirement System lifted its holdings in Crane NXT by 2.1% in the second quarter. Arizona State Retirement System now owns 13,548 shares of the company’s stock valued at $832,000 after acquiring an additional 279 shares during the period. Finally, Ritholtz Wealth Management lifted its holdings in Crane NXT by 5.8% in the third quarter. Ritholtz Wealth Management now owns 6,667 shares of the company’s stock valued at $374,000 after acquiring an additional 364 shares during the period. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Stock Down 1.6 %

NYSE CXT opened at $55.64 on Thursday. The stock’s 50-day moving average price is $56.07 and its 200-day moving average price is $58.55. The company has a quick ratio of 1.01, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. Crane NXT, Co. has a 52 week low of $50.31 and a 52 week high of $64.80. The company has a market capitalization of $3.18 billion, a P/E ratio of 18.24 and a beta of 1.33.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. Crane NXT had a return on equity of 23.46% and a net margin of 12.18%. The firm had revenue of $403.50 million for the quarter, compared to the consensus estimate of $392.44 million. During the same quarter last year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Crane NXT, Co. will post 4.26 earnings per share for the current year.

Crane NXT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 29th. Crane NXT’s dividend payout ratio (DPR) is presently 20.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CXT shares. Northland Securities lowered their target price on Crane NXT from $96.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. DA Davidson reissued a “buy” rating and issued a $100.00 target price on shares of Crane NXT in a report on Monday, September 30th. Robert W. Baird increased their target price on Crane NXT from $77.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Baird R W raised Crane NXT to a “strong-buy” rating in a report on Thursday, October 17th.

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.