Crane NXT (NYSE:CXT) Sets New 52-Week Low – Should You Sell?

Crane NXT, Co. (NYSE:CXT) reached a new 52-week low during trading on Wednesday . The company traded as low as $50.23 and last traded at $51.55, with a volume of 390460 shares. The stock had previously closed at $51.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CXT shares. 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 cut 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 research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.33.

Crane NXT Trading Up 0.3 %

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 cap of $2.95 billion, a P/E ratio of 16.16 and a beta of 1.32. The stock has a 50 day simple moving average of $57.66 and a 200-day simple moving average of $58.04.

Crane NXT (NYSE:CXT) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 research analysts expect that Crane NXT, Co. will post 4.16 EPS 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 paid a dividend of $0.17 per share. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT’s payout ratio is presently 21.32%.

Hedge Funds Weigh In On Crane NXT

A number of institutional investors and hedge funds have recently modified their holdings of CXT. Charles Schwab Investment Management Inc. boosted its stake in Crane NXT by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 444,863 shares of the company’s stock worth $24,957,000 after buying an additional 12,026 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of Crane NXT in the 3rd quarter worth about $486,000. ArrowMark Colorado Holdings LLC purchased a new position in shares of Crane NXT during the 3rd quarter worth about $5,712,000. Centiva Capital LP bought a new position in Crane NXT during the 3rd quarter valued at about $525,000. Finally, Holocene Advisors LP purchased a new stake in Crane NXT in the 3rd quarter worth about $490,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

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.