Channing Capital Management LLC Makes New Investment in Crane NXT, Co. $CXT

Channing Capital Management LLC purchased a new stake in Crane NXT, Co. (NYSE:CXT) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 214,457 shares of the company’s stock, valued at approximately $14,384,000. Channing Capital Management LLC owned about 0.37% of Crane NXT as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CXT. Whittier Trust Co. grew its position in shares of Crane NXT by 8.5% in the third quarter. Whittier Trust Co. now owns 2,170 shares of the company’s stock valued at $144,000 after purchasing an additional 170 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Crane NXT by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 50,304 shares of the company’s stock valued at $2,711,000 after buying an additional 190 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Crane NXT by 141.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Crane NXT by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 44,954 shares of the company’s stock worth $2,423,000 after acquiring an additional 271 shares during the period. Finally, Anchor Capital Advisors LLC boosted its position in shares of Crane NXT by 1.6% in the third quarter. Anchor Capital Advisors LLC now owns 18,394 shares of the company’s stock worth $1,234,000 after acquiring an additional 289 shares during the last quarter. Institutional investors and hedge funds own 77.49% of the company’s stock.

Analysts Set New Price Targets

CXT has been the subject of several research analyst reports. CJS Securities raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. UBS Group set a $58.00 price objective on Crane NXT in a report on Friday, February 13th. Northland Securities set a $62.00 target price on Crane NXT in a report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, January 21st. Finally, Robert W. Baird set a $73.00 price objective on Crane NXT in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Crane NXT presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.60.

Crane NXT Trading Down 1.2%

NYSE:CXT opened at $52.01 on Friday. The business’s 50-day moving average is $50.46 and its two-hundred day moving average is $57.45. The firm has a market capitalization of $2.99 billion, a PE ratio of 20.72 and a beta of 1.18. Crane NXT, Co. has a 12 month low of $41.54 and a 12 month high of $69.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 1.20.

Crane NXT (NYSE:CXT) last posted its earnings results on Wednesday, February 11th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $476.90 million during the quarter, compared to analyst estimates of $450.53 million. Crane NXT had a return on equity of 19.84% and a net margin of 8.76%.The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. Research analysts predict that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Saturday, February 28th will be paid a dividend of $0.18 per share. This is an increase from Crane NXT’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, February 27th. Crane NXT’s payout ratio is 27.09%.

Crane NXT Company 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. The Crane Currency segment provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products.