Cornercap Investment Counsel Inc. Buys 3,507 Shares of Crane NXT, Co. (NYSE:CXT)

Cornercap Investment Counsel Inc. raised its position in shares of Crane NXT, Co. (NYSE:CXT) by 83.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,714 shares of the company’s stock after acquiring an additional 3,507 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Crane NXT were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Level Four Advisory Services LLC grew its stake in shares of Crane NXT by 62.5% during the fourth quarter. Level Four Advisory Services LLC now owns 25,208 shares of the company’s stock valued at $1,468,000 after buying an additional 9,700 shares during the last quarter. Norges Bank purchased a new stake in Crane NXT in the fourth quarter worth $26,754,000. Loomis Sayles & Co. L P lifted its position in shares of Crane NXT by 2.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 384,487 shares of the company’s stock worth $22,385,000 after purchasing an additional 7,399 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Crane NXT by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,930,995 shares of the company’s stock valued at $345,303,000 after purchasing an additional 66,800 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Crane NXT in the fourth quarter worth about $588,000. Institutional investors own 77.49% of the company’s stock.

Crane NXT Price Performance

CXT opened at $51.32 on Friday. The firm has a market capitalization of $2.94 billion, a PE ratio of 16.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.14 and a quick ratio of 0.88. The business’s 50-day moving average is $58.21 and its two-hundred day moving average is $58.12. Crane NXT, Co. has a 1 year low of $50.87 and a 1 year high of $67.01.

Crane NXT (NYSE:CXT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. Crane NXT had a net margin of 12.38% and a return on equity of 24.08%. Research analysts anticipate that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 28th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.33%. This is an increase from Crane NXT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 28th. Crane NXT’s payout ratio is 21.32%.

Wall Street Analyst Weigh In

CXT has been the topic of a number of research reports. Northland Capmk lowered shares of Crane NXT from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Northland Securities lowered shares of Crane NXT from an “outperform” rating to a “market perform” rating and set a $72.00 price target for the company. in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Crane NXT presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

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.