Crane Company (CR) Shares Bought by Amalgamated Bank
Amalgamated Bank lifted its stake in shares of Crane Company (NYSE:CR) by 27.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,816 shares of the conglomerate’s stock after buying an additional 2,084 shares during the quarter. Amalgamated Bank’s holdings in Crane were worth $779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. ClariVest Asset Management LLC increased its position in shares of Crane by 15.7% during the first quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock valued at $110,000 after buying an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Crane by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,778 shares of the conglomerate’s stock worth $141,000 after purchasing an additional 140 shares during the period. Global X Management Co. LLC grew its holdings in Crane by 221.0% in the second quarter. Global X Management Co. LLC now owns 1,862 shares of the conglomerate’s stock worth $148,000 after purchasing an additional 1,282 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Crane in the second quarter worth about $204,000. Finally, Broderick Brian C purchased a new stake in Crane in the first quarter worth about $202,000. Institutional investors own 69.42% of the company’s stock.
A number of equities research analysts have weighed in on CR shares. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Wednesday, June 14th. Stifel Nicolaus restated a “hold” rating and issued a $84.00 price objective on shares of Crane in a report on Thursday, July 6th. BidaskClub upgraded shares of Crane from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Wolfe Research started coverage on shares of Crane in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Crane presently has an average rating of “Buy” and an average price target of $76.88.
In other Crane news, Director E Thayer Bigelow sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $73.73, for a total transaction of $442,380.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Edward S. Switter sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $74.03, for a total transaction of $518,210.00. Following the sale, the vice president now directly owns 23,873 shares in the company, valued at approximately $1,767,318.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,200 shares of company stock worth $1,661,630. 3.10% of the stock is owned by insiders.
Crane Company (NYSE:CR) opened at 79.99 on Friday. The company’s 50-day moving average is $74.59 and its 200-day moving average is $76.89. The company has a market cap of $4.77 billion, a P/E ratio of 36.44 and a beta of 1.11. Crane Company has a 12 month low of $59.81 and a 12 month high of $84.34.
Crane (NYSE:CR) last released its earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share for the quarter, hitting the consensus estimate of $1.17. The company had revenue of $702.50 million for the quarter, compared to the consensus estimate of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. Crane’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. On average, equities research analysts expect that Crane Company will post $4.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 31st were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, August 29th. Crane’s dividend payout ratio is presently 60.83%.
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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