Crane Co. (CR) Position Decreased by Meadow Creek Investment Management LLC
Meadow Creek Investment Management LLC trimmed its position in Crane Co. (NYSE:CR) by 20.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,044 shares of the conglomerate’s stock after selling 2,380 shares during the period. Meadow Creek Investment Management LLC’s holdings in Crane were worth $807,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. First Republic Investment Management Inc. acquired a new stake in Crane in the 3rd quarter worth about $344,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Crane by 51.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,695 shares of the conglomerate’s stock worth $240,000 after buying an additional 917 shares during the last quarter. AXA boosted its holdings in Crane by 3.6% in the 3rd quarter. AXA now owns 113,700 shares of the conglomerate’s stock worth $9,095,000 after buying an additional 4,000 shares during the last quarter. Legal & General Group Plc boosted its holdings in Crane by 9.8% in the 3rd quarter. Legal & General Group Plc now owns 59,302 shares of the conglomerate’s stock worth $4,744,000 after buying an additional 5,274 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Crane by 118.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,725 shares of the conglomerate’s stock worth $298,000 after buying an additional 2,017 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.
In related news, Director E Thayer Bigelow sold 1,125 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $94.74, for a total value of $106,582.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brendan Curran sold 16,356 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $93.87, for a total value of $1,535,337.72. Following the completion of the transaction, the insider now owns 27,702 shares in the company, valued at $2,600,386.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,861 shares of company stock worth $4,476,647. Insiders own 3.10% of the company’s stock.
Crane Co. (CR) opened at $92.77 on Friday. The firm has a market capitalization of $5,710.42, a P/E ratio of 32.67, a PEG ratio of 1.33 and a beta of 1.23. Crane Co. has a twelve month low of $70.56 and a twelve month high of $102.65. The company has a current ratio of 1.81, a quick ratio of 1.40 and a debt-to-equity ratio of 0.37.
Crane (NYSE:CR) last issued its earnings results on Monday, January 29th. The conglomerate reported $1.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.01. The business had revenue of $714.20 million for the quarter, compared to analysts’ expectations of $702.50 million. Crane had a return on equity of 20.66% and a net margin of 6.17%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.02 EPS. research analysts predict that Crane Co. will post 5.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.35 per share. This is a boost from Crane’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Tuesday, February 27th. Crane’s payout ratio is currently 49.30%.
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Crane Company Profile
Crane Co (Crane) is a manufacturer of engineered industrial products. The Company operates through four segments, including 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.
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