Mutual of America Capital Management LLC Decreases Stock Holdings in Crane NXT, Co. (NYSE:CXT)

Mutual of America Capital Management LLC trimmed its holdings in shares of Crane NXT, Co. (NYSE:CXT) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,308 shares of the company’s stock after selling 667 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Crane NXT were worth $1,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CXT. Park Square Financial Group LLC purchased a new stake in Crane NXT in the fourth quarter worth $26,000. UMB Bank n.a. increased its position in Crane NXT by 87.2% in the first quarter. UMB Bank n.a. now owns 702 shares of the company’s stock worth $36,000 after buying an additional 327 shares during the last quarter. Quarry LP purchased a new stake in Crane NXT in the fourth quarter worth $42,000. Covestor Ltd increased its position in Crane NXT by 38.6% in the fourth quarter. Covestor Ltd now owns 739 shares of the company’s stock worth $43,000 after buying an additional 206 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Crane NXT by 46.0% in the first quarter. Fifth Third Bancorp now owns 812 shares of the company’s stock worth $42,000 after buying an additional 256 shares during the last quarter. 77.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CXT shares. DA Davidson decreased their target price on Crane NXT from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, May 9th. UBS Group decreased their target price on Crane NXT from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Three equities research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.75.

Crane NXT Price Performance

Crane NXT stock opened at $57.29 on Monday. Crane NXT, Co. has a one year low of $41.54 and a one year high of $67.01. The business has a fifty day moving average price of $55.12 and a 200-day moving average price of $54.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 0.92. The firm has a market capitalization of $3.29 billion, a P/E ratio of 19.69 and a beta of 1.29.

Crane NXT (NYSE:CXT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Crane NXT had a return on equity of 21.58% and a net margin of 11.17%. The firm had revenue of $330.30 million during the quarter, compared to analyst estimates of $318.46 million. During the same period last year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Crane NXT, Co. will post 4.16 EPS for the current year.

Crane NXT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Friday, May 30th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, May 30th. Crane NXT’s dividend payout ratio is 23.37%.

Crane NXT 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.