Barrow Hanley Mewhinney & Strauss LLC Takes Position in Crane NXT, Co. $CXT

Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Crane NXT, Co. (NYSE:CXT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 526,444 shares of the company’s stock, valued at approximately $35,309,000. Barrow Hanley Mewhinney & Strauss LLC owned 0.92% of Crane NXT as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its holdings in shares of Crane NXT by 141.6% during the third quarter. Smartleaf Asset Management LLC now owns 389 shares of the company’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of Crane NXT in the 3rd quarter valued at $28,000. Aster Capital Management DIFC Ltd bought a new stake in Crane NXT in the third quarter worth $33,000. Heartwood Wealth Advisors LLC bought a new stake in Crane NXT in the third quarter worth $34,000. Finally, Neo Ivy Capital Management bought a new position in Crane NXT during the third quarter valued at about $40,000. Hedge funds and other institutional investors own 77.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Zacks Research raised Crane NXT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Robert W. Baird set a $73.00 target price on Crane NXT in a report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crane NXT in a research report on Wednesday, January 21st. DA Davidson restated a “buy” rating and issued a $85.00 price target on shares of Crane NXT in a research report on Tuesday, February 17th. Finally, UBS Group set a $58.00 price objective on shares of Crane NXT in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Crane NXT presently has an average rating of “Moderate Buy” and a consensus target price of $71.60.

Crane NXT Stock Performance

Shares of Crane NXT stock opened at $44.19 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.50 and a quick ratio of 1.20. The firm has a 50 day simple moving average of $50.52 and a 200 day simple moving average of $56.37. Crane NXT, Co. has a fifty-two week low of $41.54 and a fifty-two week high of $69.00. The firm has a market cap of $2.54 billion, a P/E ratio of 17.60 and a beta of 1.18.

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

Crane NXT Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Saturday, February 28th were given a dividend of $0.18 per share. The ex-dividend date was Friday, February 27th. This represents a $0.72 annualized dividend and a dividend yield of 1.6%. This is a positive change from Crane NXT’s previous quarterly dividend of $0.17. Crane NXT’s dividend payout ratio is presently 28.69%.

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