Crane Co. (NYSE:CR) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 394,900 shares, a growth of 6.6% from the September 30th total of 370,600 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 301,000 shares, the short-interest ratio is currently 1.3 days.
Several institutional investors have recently added to or reduced their stakes in CR. Steward Partners Investment Advisory LLC bought a new position in shares of Crane during the 2nd quarter valued at $25,000. Cullen Frost Bankers Inc. bought a new position in Crane in the 2nd quarter worth $31,000. Redhawk Wealth Advisors Inc. bought a new position in Crane in the 2nd quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Crane in the 2nd quarter worth $48,000. Finally, NumerixS Investment Technologies Inc bought a new position in Crane in the 2nd quarter worth $50,000. Institutional investors and hedge funds own 69.05% of the company’s stock.
CR has been the subject of a number of research reports. Vertical Research lowered shares of Crane from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Canaccord Genuity lowered shares of Crane from a “buy” rating to a “hold” rating and decreased their target price for the company from $105.00 to $85.00 in a research note on Wednesday, October 30th. Buckingham Research lowered shares of Crane from a “buy” rating to a “neutral” rating and decreased their target price for the company from $102.00 to $79.00 in a research note on Wednesday, October 30th. ValuEngine raised shares of Crane from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, DA Davidson lifted their target price on shares of Crane from $105.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $91.64.
Shares of Crane stock traded up $1.27 during midday trading on Friday, reaching $82.88. 222,985 shares of the company’s stock traded hands, compared to its average volume of 395,018. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 3.96 and a beta of 1.35. The company’s 50 day simple moving average is $79.65 and its 200 day simple moving average is $80.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.56 and a current ratio of 2.24. Crane has a 52 week low of $67.18 and a 52 week high of $92.57.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, October 28th. The conglomerate reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.15). The business had revenue of $772.30 million for the quarter, compared to the consensus estimate of $802.46 million. Crane had a net margin of 10.20% and a return on equity of 22.76%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. As a group, equities research analysts predict that Crane will post 6.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.88%. Crane’s dividend payout ratio is currently 26.04%.
Crane Company Profile
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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