Retirement Systems of Alabama Cuts Stake in Crane NXT, Co. (NYSE:CXT)

Retirement Systems of Alabama lessened its position in shares of Crane NXT, Co. (NYSE:CXT) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,932 shares of the company’s stock after selling 692 shares during the period. Retirement Systems of Alabama owned about 0.10% of Crane NXT worth $3,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in Crane NXT during the 1st quarter worth approximately $38,000. Hobbs Group Advisors LLC acquired a new position in Crane NXT during the 2nd quarter worth approximately $52,000. Blue Trust Inc. grew its holdings in Crane NXT by 27.8% during the 2nd quarter. Blue Trust Inc. now owns 942 shares of the company’s stock worth $58,000 after acquiring an additional 205 shares in the last quarter. Assetmark Inc. grew its holdings in Crane NXT by 9,630.0% during the 4th quarter. Assetmark Inc. now owns 973 shares of the company’s stock worth $55,000 after acquiring an additional 963 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Crane NXT by 154.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock worth $100,000 after acquiring an additional 984 shares in the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Crane NXT Trading Up 0.1 %

NYSE CXT opened at $58.33 on Wednesday. The firm has a 50 day moving average of $59.12 and a two-hundred day moving average of $60.14. Crane NXT, Co. has a 52 week low of $48.42 and a 52 week high of $64.80. The company has a quick ratio of 1.56, a current ratio of 2.12 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $3.33 billion, a PE ratio of 18.40 and a beta of 1.34.

Crane NXT (NYSE:CXT) last issued its 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. Crane NXT had a net margin of 13.26% and a return on equity of 25.50%. The business had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $367.08 million. During the same quarter in the prior year, the business posted $1.12 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts expect that Crane NXT, Co. will post 4.3 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, August 30th. Crane NXT’s payout ratio is 20.19%.

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.