State of Michigan Retirement System Lowers Stock Holdings in Crane NXT, Co. (NYSE:CXT)

State of Michigan Retirement System cut its holdings in Crane NXT, Co. (NYSE:CXT) by 1.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,672 shares of the company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Crane NXT were worth $717,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in Crane NXT during the 4th quarter worth $66,550,000. Congress Asset Management Co. MA boosted its position in Crane NXT by 3,331.1% during the first quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock worth $36,855,000 after acquiring an additional 578,043 shares during the last quarter. Capital International Investors grew its stake in Crane NXT by 40.0% during the 1st quarter. Capital International Investors now owns 653,052 shares of the company’s stock valued at $40,424,000 after acquiring an additional 186,437 shares in the last quarter. Axiom Investors LLC DE raised its holdings in Crane NXT by 187.9% in the 4th quarter. Axiom Investors LLC DE now owns 219,740 shares of the company’s stock valued at $12,497,000 after acquiring an additional 143,410 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in Crane NXT by 20.2% in the 4th quarter. Brown Advisory Inc. now owns 576,749 shares of the company’s stock worth $32,800,000 after purchasing an additional 97,109 shares in the last quarter. 77.49% of the stock is owned by institutional investors and hedge funds.

Crane NXT Price Performance

NYSE:CXT opened at $58.75 on Friday. The stock has a 50 day moving average price of $58.80 and a 200 day moving average price of $60.11. The stock has a market cap of $3.36 billion, a PE ratio of 18.53 and a beta of 1.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.56 and a current ratio of 2.12. Crane NXT, Co. has a one year low of $48.42 and a one year high of $64.80.

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, topping analysts’ consensus estimates of $1.04 by $0.02. The business had revenue of $370.60 million during the quarter, compared to the consensus estimate of $367.08 million. Crane NXT had a return on equity of 25.50% and a net margin of 13.26%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS. Equities research analysts expect that Crane NXT, Co. will post 4.3 EPS for the current fiscal year.

Crane NXT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 30th will be paid a $0.16 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.09%. Crane NXT’s dividend payout ratio (DPR) 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.