Crane NXT (NYSE:CXT) Shares Down 5.5%

Crane NXT, Co. (NYSE:CXT) was down 5.5% during mid-day trading on Wednesday . The company traded as low as $56.33 and last traded at $56.33. Approximately 285,018 shares were traded during trading, a decline of 16% from the average daily volume of 340,033 shares. The stock had previously closed at $59.64.

Crane NXT Stock Performance

The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 17.77 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $58.33 and its 200-day moving average is $59.91.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.02. The firm had revenue of $370.60 million during the quarter, compared to the consensus estimate of $367.08 million. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 earnings per share. On average, analysts forecast that Crane NXT, Co. will post 4.28 EPS for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, August 30th. Crane NXT’s dividend payout ratio (DPR) is presently 20.19%.

Institutional Investors Weigh In On Crane NXT

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in shares of Crane NXT by 9.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 983,351 shares of the company’s stock worth $55,926,000 after purchasing an additional 85,876 shares in the last quarter. Corient Private Wealth LLC grew its stake in Crane NXT by 107.5% in the 4th quarter. Corient Private Wealth LLC now owns 16,930 shares of the company’s stock worth $963,000 after buying an additional 8,772 shares in the last quarter. Quest Partners LLC purchased a new position in Crane NXT in the 4th quarter worth approximately $191,000. Assetmark Inc. grew its stake in Crane NXT by 9,630.0% in the 4th quarter. Assetmark Inc. now owns 973 shares of the company’s stock worth $55,000 after buying an additional 963 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Crane NXT in the 4th quarter worth approximately $221,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.

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.