Hudson Bay Capital Management LP Buys 100,482 Shares of Crane NXT, Co. $CXT

Hudson Bay Capital Management LP grew its stake in Crane NXT, Co. (NYSE:CXT) by 1,004.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 110,482 shares of the company’s stock after buying an additional 100,482 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Crane NXT were worth $5,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CXT. AlphaQuest LLC bought a new stake in Crane NXT in the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Crane NXT by 4,080.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $34,000 after purchasing an additional 612 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Crane NXT by 120.3% in the first quarter. Jones Financial Companies Lllp now owns 716 shares of the company’s stock valued at $37,000 after purchasing an additional 391 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Crane NXT by 9,087.5% during the second quarter. Hantz Financial Services Inc. now owns 735 shares of the company’s stock worth $40,000 after buying an additional 727 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Crane NXT by 14.1% during the second quarter. GAMMA Investing LLC now owns 2,974 shares of the company’s stock worth $160,000 after buying an additional 368 shares in the last quarter. 77.49% of the stock is currently owned by institutional investors and hedge funds.

Crane NXT Price Performance

Shares of CXT opened at $49.64 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69. The company’s fifty day simple moving average is $60.98 and its 200 day simple moving average is $59.48. Crane NXT, Co. has a 1-year low of $41.54 and a 1-year high of $69.00. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 18.52 and a beta of 1.18.

Crane NXT (NYSE:CXT) last announced its quarterly earnings data on Wednesday, June 1st. The company reported $1.81 EPS for the quarter. The company had revenue of $871.50 million during the quarter. Crane NXT had a net margin of 9.80% and a return on equity of 20.24%. On average, research analysts forecast that Crane NXT, Co. will post 4.16 earnings per share for the current fiscal year.

Crane NXT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 28th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, November 28th. Crane NXT’s payout ratio is 25.37%.

Analyst Ratings Changes

Several equities research analysts have commented on CXT shares. Weiss Ratings restated a “hold (c+)” rating on shares of Crane NXT in a research note on Wednesday, October 8th. Oppenheimer increased their target price on shares of Crane NXT from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Robert W. Baird lowered their price target on shares of Crane NXT from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Monday. CJS Securities raised shares of Crane NXT to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, DA Davidson restated a “buy” rating and issued a $85.00 price objective on shares of Crane NXT in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.80.

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.