Crane NXT, Co. (NYSE:CXT) Sees Large Growth in Short Interest

Crane NXT, Co. (NYSE:CXT) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 5,110,000 shares, a growth of 11.3% from the May 15th total of 4,590,000 shares. Based on an average daily volume of 304,200 shares, the short-interest ratio is currently 16.8 days. Approximately 10.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Northland Securities initiated coverage on Crane NXT in a research note on Monday, April 8th. They issued an “outperform” rating and a $91.00 price target for the company. DA Davidson raised their price target on shares of Crane NXT from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, March 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CXT. Acadian Asset Management LLC acquired a new stake in Crane NXT in the third quarter valued at approximately $28,000. LRI Investments LLC acquired a new stake in Crane NXT in the 1st quarter valued at $38,000. CI Investments Inc. bought a new stake in Crane NXT during the 3rd quarter valued at $53,000. Assetmark Inc. raised its holdings in Crane NXT by 9,630.0% during the fourth quarter. Assetmark Inc. now owns 973 shares of the company’s stock worth $55,000 after buying an additional 963 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Crane NXT by 154.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,622 shares of the company’s stock worth $100,000 after buying an additional 984 shares during the last quarter. 77.49% of the stock is owned by institutional investors.

Crane NXT Trading Down 0.4 %

Crane NXT stock traded down $0.26 during trading hours on Friday, reaching $60.37. 296,931 shares of the company’s stock were exchanged, compared to its average volume of 215,265. The firm’s 50 day simple moving average is $61.35 and its 200 day simple moving average is $58.91. Crane NXT has a twelve month low of $48.42 and a twelve month high of $63.89. 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 firm has a market capitalization of $3.45 billion, a PE ratio of 19.04 and a beta of 1.35.

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

Crane NXT Dividend Announcement

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 dividend of $0.16 per share. The ex-dividend date was Friday, May 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. Crane NXT’s payout ratio is presently 20.19%.

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.