LRI Investments LLC Invests $38,000 in Crane NXT, Co. (NYSE:CXT)

LRI Investments LLC bought a new position in Crane NXT, Co. (NYSE:CXT) during the 1st quarter, HoldingsChannel reports. The fund bought 632 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Retirement Systems of Alabama lifted its stake in shares of Crane NXT by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 60,465 shares of the company’s stock worth $3,439,000 after buying an additional 185 shares in the last quarter. Bank of Nova Scotia lifted its position in Crane NXT by 3.7% during the fourth quarter. Bank of Nova Scotia now owns 7,613 shares of the company’s stock valued at $433,000 after purchasing an additional 270 shares during the period. Louisiana State Employees Retirement System lifted its position in Crane NXT by 2.2% during the first quarter. Louisiana State Employees Retirement System now owns 13,900 shares of the company’s stock valued at $860,000 after purchasing an additional 300 shares during the period. State of Michigan Retirement System lifted its position in Crane NXT by 2.6% during the first quarter. State of Michigan Retirement System now owns 11,872 shares of the company’s stock valued at $735,000 after purchasing an additional 300 shares during the period. Finally, Private Advisor Group LLC lifted its position in Crane NXT by 8.2% during the fourth quarter. Private Advisor Group LLC now owns 4,483 shares of the company’s stock valued at $255,000 after purchasing an additional 340 shares during the period. Institutional investors own 77.49% of the company’s stock.

Crane NXT Stock Performance

Crane NXT stock traded up $2.45 during midday trading on Friday, reaching $63.84. 295,193 shares of the company traded hands, compared to its average volume of 340,943. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 20.14 and a beta of 1.34. The business has a 50 day moving average of $60.61 and a two-hundred day moving average of $60.07. Crane NXT, Co. has a 12 month low of $48.42 and a 12 month high of $64.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.12 and a quick ratio of 1.56.

Crane NXT (NYSE:CXT) last announced its earnings results on Wednesday, May 8th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Crane NXT had a net margin of 13.26% and a return on equity of 25.50%. The business had revenue of $313.60 million for the quarter, compared to analysts’ expectations of $311.72 million. During the same period in the prior year, the company posted $0.96 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts predict that Crane NXT, Co. will post 4.3 earnings per share for the current year.

Crane NXT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 31st were paid a $0.16 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. Crane NXT’s dividend payout ratio (DPR) is presently 20.19%.

Analyst Upgrades and Downgrades

Separately, Northland Securities started coverage on shares of Crane NXT in a research report on Monday, April 8th. They set an “outperform” rating and a $91.00 price objective on the stock.

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.