Fruth Investment Management Makes New $215,000 Investment in Crane Co. (NYSE:CR)


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Fruth Investment Management purchased a new position in shares of Crane Co. (NYSE:CR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,300 shares of the conglomerate’s stock, valued at approximately $215,000.

Other hedge funds also recently bought and sold shares of the company. Inspire Advisors LLC purchased a new stake in Crane in the 4th quarter valued at approximately $30,000. Ellevest Inc. increased its holdings in shares of Crane by 136.9% during the 4th quarter. Ellevest Inc. now owns 514 shares of the conglomerate’s stock worth $40,000 after buying an additional 297 shares during the last quarter. CI Investments Inc. increased its holdings in shares of Crane by 55.6% during the 4th quarter. CI Investments Inc. now owns 571 shares of the conglomerate’s stock worth $44,000 after buying an additional 204 shares during the last quarter. Concord Wealth Partners acquired a new stake in shares of Crane during the 4th quarter worth $61,000. Finally, Bessemer Group Inc. acquired a new stake in shares of Crane during the 4th quarter worth $78,000. 65.86% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the company. Canaccord Genuity increased their price target on Crane from $96.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, March 10th. Vertical Research upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Thursday, January 7th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating and set a $80.00 price objective on the stock in a research note on Thursday, January 28th. Finally, DA Davidson lowered shares of Crane from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $75.00 to $80.00 in a research report on Thursday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $78.20.

NYSE:CR opened at $94.42 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.42. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 248.48 and a beta of 1.65. The firm’s 50-day moving average is $92.08 and its 200-day moving average is $75.27. Crane Co. has a 52-week low of $44.23 and a 52-week high of $96.35.

Crane (NYSE:CR) last issued its earnings results on Sunday, January 24th. The conglomerate reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.10). Crane had a net margin of 0.71% and a return on equity of 18.09%. The firm had revenue of $728.90 million during the quarter, compared to the consensus estimate of $736.22 million. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue for the quarter was down 13.0% on a year-over-year basis. Equities analysts predict that Crane Co. will post 3.94 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Friday, February 26th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.82%. The ex-dividend date was Thursday, February 25th. Crane’s payout ratio is presently 28.57%.

In other news, CFO Richard A. Maue sold 15,822 shares of the stock in a transaction on Wednesday, February 17th. The shares were sold at an average price of $83.12, for a total transaction of $1,315,124.64. Following the completion of the sale, the chief financial officer now owns 93,075 shares of the company’s stock, valued at $7,736,394. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Crane Company Profile

Crane Co manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company's Fluid Handling segment offers on/off valves and related products for the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; fluid control instrumentation and sampling solutions; and pumps and related products for water and wastewater applications in industrial, municipal, commercial, and military markets.

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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