Macquarie Group Ltd. Holds Stake in Crane Co. (CR)
Macquarie Group Ltd. continued to hold its position in shares of Crane Co. (NYSE:CR) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 19,100 shares of the company’s stock at the end of the second quarter. Macquarie Group Ltd.’s holdings in Crane were worth $1,083,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. LS Investment Advisors LLC boosted its stake in Crane by 74.5% in the second quarter. LS Investment Advisors LLC now owns 3,056 shares of the company’s stock valued at $173,000 after buying an additional 1,305 shares during the period. Citigroup Inc. raised its position in shares of Crane by 32.9% in the second quarter. Citigroup Inc. now owns 3,469 shares of the company’s stock valued at $197,000 after buying an additional 859 shares in the last quarter. Synovus Financial Corp raised its position in shares of Crane by 46.1% in the second quarter. Synovus Financial Corp now owns 3,485 shares of the company’s stock valued at $198,000 after buying an additional 1,100 shares in the last quarter. Alambic Investment Management L.P. purchased a new position in shares of Crane during the second quarter valued at approximately $210,000. Finally, Calvert Investment Management Inc. purchased a new position in shares of Crane during the second quarter valued at approximately $218,000. Hedge funds and other institutional investors own 67.39% of the company’s stock.
Shares of Crane Co. (NYSE:CR) opened at 62.17 on Thursday. The firm has a 50-day moving average price of $63.87 and a 200-day moving average price of $58.17. Crane Co. has a 1-year low of $41.68 and a 1-year high of $65.88. The stock has a market capitalization of $3.63 billion, a PE ratio of 14.94 and a beta of 1.43.
Crane (NYSE:CR) last released its earnings results on Monday, July 25th. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.19. Crane had a return on equity of 21.25% and a net margin of 9.01%. The firm earned $712.20 million during the quarter, compared to analysts’ expectations of $697.13 million. During the same period in the previous year, the firm posted $1.06 EPS. Crane’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts forecast that Crane Co. will post ($0.17) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.32 annualized dividend and a dividend yield of 2.12%. Crane’s dividend payout ratio is currently 31.73%.
Several equities analysts have recently issued reports on the company. Bank of America Corp. raised Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target for the company in a research report on Friday, July 29th. Topeka Capital Markets began coverage on Crane in a report on Thursday, May 26th. They issued a “buy” rating and a $62.00 price objective for the company. Royal Bank Of Canada lifted their price objective on Crane from $57.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 27th. Zacks Investment Research downgraded Crane from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Finally, Alembic Global Advisors assumed coverage on Crane in a research note on Monday, July 11th. They set a “neutral” rating and a $61.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.00.
In other news, insider Bradley Ellis sold 10,000 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $65.14, for a total value of $651,400.00. Following the completion of the sale, the insider now directly owns 167,711 shares of the company’s stock, valued at approximately $10,924,694.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP A D. Pantaleoni sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $62.74, for a total value of $313,700.00. Following the completion of the sale, the vice president now directly owns 9,876 shares of the company’s stock, valued at $619,620.24. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
Crane Company Profile
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics, and Engineered Materials. The Fluid Handling segment is a provider of engineered fluid handling equipment, including Process Valves and Related Products, Commercial Valves and Other Products.
Want to see what other hedge funds are holding CR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crane Co. (NYSE:CR).
Receive News & Ratings for Crane Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crane Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.