Short Interest in Crane NXT, Co. (NYSE:CXT) Declines By 8.4%

Crane NXT, Co. (NYSE:CXT) saw a large decrease in short interest in July. As of July 15th, there was short interest totalling 4,380,000 shares, a decrease of 8.4% from the June 30th total of 4,780,000 shares. Approximately 9.0% of the company’s stock are sold short. Based on an average daily trading volume, of 302,600 shares, the days-to-cover ratio is currently 14.5 days.

Institutional Investors Weigh In On Crane NXT

A number of institutional investors and hedge funds have recently bought and sold shares of CXT. Raymond James & Associates lifted its holdings in shares of Crane NXT by 14.5% in the 4th quarter. Raymond James & Associates now owns 101,121 shares of the company’s stock valued at $5,751,000 after purchasing an additional 12,822 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Crane NXT in the fourth quarter valued at approximately $572,000. Venture Visionary Partners LLC increased its holdings in shares of Crane NXT by 9.0% in the 4th quarter. Venture Visionary Partners LLC now owns 24,274 shares of the company’s stock valued at $1,381,000 after acquiring an additional 1,995 shares during the period. Louisiana State Employees Retirement System purchased a new stake in Crane NXT in the 4th quarter valued at $773,000. Finally, Cornercap Investment Counsel Inc. acquired a new stake in Crane NXT during the 4th quarter worth $991,000. 77.49% of the stock is owned by hedge funds and other institutional investors.

Crane NXT Stock Down 3.8 %

NYSE CXT traded down $2.40 on Thursday, hitting $60.48. 188,485 shares of the stock were exchanged, compared to its average volume of 323,466. Crane NXT has a fifty-two week low of $48.42 and a fifty-two week high of $64.80. The company has a 50-day moving average price of $60.71 and a 200-day moving average price of $60.23. The company has a quick ratio of 1.56, a current ratio of 2.12 and a debt-to-equity ratio of 0.66. The company has a market cap of $3.46 billion, a PE ratio of 19.08 and a beta of 1.34.

Crane NXT (NYSE:CXT) last issued its earnings results on Wednesday, May 8th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Crane NXT had a return on equity of 25.50% and a net margin of 13.26%. The firm had revenue of $313.60 million for the quarter, compared to analyst estimates of $311.72 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts anticipate that Crane NXT will post 4.3 EPS for the current fiscal year.

Crane NXT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Friday, May 31st. Crane NXT’s dividend payout ratio (DPR) is 20.19%.

Analyst Ratings Changes

Separately, Northland Securities initiated coverage on shares of Crane NXT in a research note on Monday, April 8th. They issued an “outperform” rating and a $91.00 price target for the company.

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.