Crane Company (CR) Shares Sold by Clinton Group Inc.
Clinton Group Inc. lowered its holdings in Crane Company (NYSE:CR) by 25.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,367 shares of the conglomerate’s stock after selling 10,248 shares during the period. Clinton Group Inc. owned about 0.05% of Crane worth $2,411,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Legal & General Group Plc grew its position in shares of Crane by 7.8% during the 2nd quarter. Legal & General Group Plc now owns 54,028 shares of the conglomerate’s stock valued at $4,288,000 after acquiring an additional 3,894 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Crane by 23.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 582,484 shares of the conglomerate’s stock worth $46,237,000 after purchasing an additional 111,581 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Crane by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 642,497 shares of the conglomerate’s stock worth $51,002,000 after purchasing an additional 11,670 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Crane during the 2nd quarter worth approximately $204,000. Finally, American Century Companies Inc. increased its stake in shares of Crane by 41.9% during the 2nd quarter. American Century Companies Inc. now owns 98,750 shares of the conglomerate’s stock worth $7,839,000 after purchasing an additional 29,150 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction on Monday, August 28th. The stock was 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 through the SEC website. Also, VP Kristian Robert Salovaara sold 9,200 shares of Crane stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.20, for a total value of $701,040.00. Following the transaction, the vice president now owns 24,786 shares in the company, valued at $1,888,693.20. The disclosure for this sale can be found here. Insiders have sold 22,200 shares of company stock valued at $1,661,630 over the last 90 days. 3.10% of the stock is currently owned by company insiders.
Crane Company (CR) traded up 0.36% during trading on Monday, hitting $80.28. The stock had a trading volume of 17,669 shares. The company has a 50-day moving average price of $74.59 and a 200-day moving average price of $76.89. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 36.57 and a beta of 1.11. Crane Company has a 52-week low of $59.81 and a 52-week high of $84.34.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.17. Crane had a net margin of 4.79% and a return on equity of 20.57%. The firm had revenue of $702.50 million during the quarter, compared to analyst estimates of $702.53 million. During the same quarter in the prior year, the firm earned $1.21 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts forecast that Crane Company will post $4.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 31st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.32 annualized dividend and a yield of 1.65%. Crane’s dividend payout ratio (DPR) is 60.83%.
Several research firms recently commented on CR. BidaskClub downgraded Crane from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. ValuEngine raised Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Wolfe Research assumed coverage on Crane in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Finally, Stifel Nicolaus restated a “hold” rating and issued a $85.00 target price on shares of Crane in a research note on Friday, July 14th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $76.88.
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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