Crane NXT, Co. (NYSE:CXT) Short Interest Down 10.4% in September

Crane NXT, Co. (NYSE:CXT) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 4,410,000 shares, a drop of 10.4% from the August 31st total of 4,920,000 shares. Based on an average trading volume of 372,900 shares, the days-to-cover ratio is presently 11.8 days. Approximately 9.0% of the company’s shares are sold short.

Hedge Funds Weigh In On Crane NXT

A number of institutional investors have recently added to or reduced their stakes in CXT. Wellington Management Group LLP bought a new position in shares of Crane NXT in the 4th quarter worth approximately $66,550,000. Pacer Advisors Inc. increased its holdings in Crane NXT by 93.4% during the second quarter. Pacer Advisors Inc. now owns 1,135,065 shares of the company’s stock valued at $69,716,000 after buying an additional 548,155 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Crane NXT by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,084,843 shares of the company’s stock valued at $66,626,000 after purchasing an additional 33,460 shares during the period. Capital International Investors increased its holdings in Crane NXT by 40.0% in the 1st quarter. Capital International Investors now owns 653,052 shares of the company’s stock worth $40,424,000 after acquiring an additional 186,437 shares in the last quarter. Finally, Congress Asset Management Co. MA increased its stake in Crane NXT by 3,331.1% in the 1st quarter. Congress Asset Management Co. MA now owns 595,396 shares of the company’s stock worth $36,855,000 after buying an additional 578,043 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors.

Crane NXT Price Performance

NYSE CXT traded down $1.07 on Tuesday, hitting $55.03. 282,189 shares of the company’s stock were exchanged, compared to its average volume of 344,130. The stock has a 50-day moving average of $57.86 and a 200-day moving average of $59.74. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 17.36 and a beta of 1.33. The company has a current ratio of 1.20, a quick ratio of 0.87 and a debt-to-equity ratio of 0.65. Crane NXT has a 52 week low of $48.42 and a 52 week high of $64.80.

Crane NXT (NYSE:CXT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Crane NXT had a net margin of 12.97% and a return on equity of 24.25%. The company had revenue of $370.60 million for the quarter, compared to analyst estimates of $367.08 million. During the same period in the prior year, the firm posted $1.12 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that Crane NXT will post 4.28 earnings per share for the current year.

Crane NXT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 30th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.16%. Crane NXT’s dividend payout ratio is currently 20.19%.

Analyst Upgrades and Downgrades

Separately, DA Davidson reaffirmed a “buy” rating and set a $100.00 price target on shares of Crane NXT in a research report on Monday.

About Crane NXT

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.