Crane NXT (NYSE:CXT) Hits New 52-Week Low – Time to Sell?

Crane NXT, Co. (NYSE:CXT)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $52.04 and last traded at $52.10, with a volume of 117626 shares traded. The stock had previously closed at $53.51.

Analyst Ratings Changes

A number of research firms recently issued reports on CXT. Northland Securities downgraded Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price objective for the company. in a report on Tuesday, February 18th. Northland Capmk downgraded Crane NXT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.33.

Crane NXT Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.14 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $59.47 and a two-hundred day simple moving average of $58.26. The stock has a market capitalization of $3.01 billion, a P/E ratio of 16.48 and a beta of 1.32.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a return on equity of 24.08% and a net margin of 12.38%. On average, equities analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 28th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 28th. Crane NXT’s dividend payout ratio (DPR) is presently 21.32%.

Institutional Trading of Crane NXT

A number of hedge funds have recently made changes to their positions in CXT. Capital International Investors lifted its position in shares of Crane NXT by 79.3% in the fourth quarter. Capital International Investors now owns 1,351,044 shares of the company’s stock valued at $78,658,000 after buying an additional 597,537 shares during the last quarter. Conestoga Capital Advisors LLC acquired a new stake in shares of Crane NXT in the fourth quarter valued at approximately $31,517,000. Silvercrest Asset Management Group LLC lifted its position in shares of Crane NXT by 95.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,021,474 shares of the company’s stock valued at $59,470,000 after buying an additional 499,290 shares during the last quarter. Norges Bank acquired a new stake in shares of Crane NXT in the fourth quarter valued at approximately $26,754,000. Finally, FMR LLC lifted its position in shares of Crane NXT by 4.1% in the fourth quarter. FMR LLC now owns 8,576,731 shares of the company’s stock valued at $499,337,000 after buying an additional 336,765 shares during the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

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.