Stone Ridge Asset Management LLC bought a new stake in shares of Crane Co. (NYSE:CR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,599 shares of the conglomerate’s stock, valued at approximately $1,481,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Amalgamated Bank increased its position in shares of Crane by 6.1% during the 4th quarter. Amalgamated Bank now owns 10,105 shares of the conglomerate’s stock valued at $902,000 after purchasing an additional 578 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Crane by 54.2% during the 3rd quarter. ClariVest Asset Management LLC now owns 2,276 shares of the conglomerate’s stock valued at $182,000 after purchasing an additional 800 shares during the last quarter. M&T Bank Corp increased its position in shares of Crane by 22.0% during the 4th quarter. M&T Bank Corp now owns 4,695 shares of the conglomerate’s stock valued at $418,000 after purchasing an additional 846 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Crane by 51.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock valued at $240,000 after purchasing an additional 917 shares during the last quarter. Finally, Synovus Financial Corp increased its position in shares of Crane by 18.3% during the 4th quarter. Synovus Financial Corp now owns 6,046 shares of the conglomerate’s stock valued at $539,000 after purchasing an additional 937 shares during the last quarter. Institutional investors and hedge funds own 69.36% of the company’s stock.
Crane stock opened at $90.23 on Friday. The company has a market capitalization of $5,481.98, a P/E ratio of 19.92, a PEG ratio of 1.61 and a beta of 1.20. Crane Co. has a 12-month low of $71.23 and a 12-month high of $102.65. The company has a quick ratio of 1.40, a current ratio of 1.81 and a debt-to-equity ratio of 0.37.
Crane (NYSE:CR) last released its earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.01. Crane had a net margin of 6.17% and a return on equity of 20.66%. The company had revenue of $714.20 million during the quarter, compared to analyst estimates of $702.50 million. During the same period in the prior year, the firm posted $1.02 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. analysts forecast that Crane Co. will post 5.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.35 per share. This is a positive change from Crane’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, February 27th. Crane’s dividend payout ratio (DPR) is 30.91%.
In other Crane news, insider Brendan Curran sold 16,356 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $93.87, for a total transaction of $1,535,337.72. Following the completion of the sale, the insider now directly owns 27,702 shares of the company’s stock, valued at approximately $2,600,386.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director E Thayer Bigelow sold 1,125 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $94.74, for a total transaction of $106,582.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,861 shares of company stock valued at $4,476,647. Insiders own 3.00% of the company’s stock.
Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson assumed coverage on shares of Crane in a research report on Wednesday, March 21st. They set a “buy” rating and a $108.00 price target for the company. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Boenning Scattergood reaffirmed a “hold” rating on shares of Crane in a research report on Tuesday, January 30th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $105.00 price target (up previously from $92.00) on shares of Crane in a research report on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Crane has a consensus rating of “Buy” and a consensus price target of $106.50.
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Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
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