Wilen Investment Management CORP. lessened its stake in Crane Co. (NYSE:CR) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,959 shares of the conglomerate’s stock after selling 540 shares during the quarter. Crane comprises approximately 1.6% of Wilen Investment Management CORP.’s holdings, making the stock its 18th biggest holding. Wilen Investment Management CORP.’s holdings in Crane were worth $2,097,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Crane by 17.7% during the 4th quarter. BlackRock Inc. now owns 7,150,304 shares of the conglomerate’s stock valued at $516,111,000 after acquiring an additional 1,073,105 shares in the last quarter. Norges Bank acquired a new position in Crane in the 4th quarter worth $44,701,000. Millennium Management LLC acquired a new position in Crane in the 4th quarter worth $7,367,000. Two Sigma Investments LP lifted its holdings in Crane by 343.5% in the 4th quarter. Two Sigma Investments LP now owns 126,387 shares of the conglomerate’s stock worth $9,123,000 after buying an additional 97,892 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Crane by 2,308.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 95,265 shares of the conglomerate’s stock worth $8,061,000 after buying an additional 91,310 shares in the last quarter. Institutional investors own 69.51% of the company’s stock.
Shares of NYSE:CR traded down $1.79 during trading on Friday, reaching $79.64. 2,334 shares of the company’s stock traded hands, compared to its average volume of 258,540. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Crane Co. has a 12 month low of $67.18 and a 12 month high of $100.14. The company has a market cap of $4.81 billion, a PE ratio of 13.32, a P/E/G ratio of 2.01 and a beta of 1.35.
Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 29th. The conglomerate reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Crane had a net margin of 10.34% and a return on equity of 24.49%. The business had revenue of $831.70 million during the quarter, compared to the consensus estimate of $792.39 million. During the same quarter in the prior year, the firm earned $1.31 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that Crane Co. will post 6.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 31st were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Thursday, May 30th. Crane’s dividend payout ratio is presently 26.04%.
A number of brokerages have commented on CR. Buckingham Research cut their price objective on shares of Crane from $102.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Zacks Investment Research upgraded shares of Crane from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. UBS Group boosted their price objective on shares of Crane from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Desjardins reiterated a “buy” rating on shares of Crane in a report on Thursday, March 7th. Finally, GMP Securities reiterated a “hold” rating on shares of Crane in a report on Thursday, February 14th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $93.02.
In other Crane news, Director James L. L Tullis acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average price of $78.13 per share, with a total value of $78,130.00. Following the transaction, the director now directly owns 1,110 shares in the company, valued at $86,724.30. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.39% of the stock is owned by corporate insiders.
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Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides on/off valves and related products for application in 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; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.
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