GSA Capital Partners LLP Grows Holdings in Crane Company (CR)
GSA Capital Partners LLP lifted its stake in shares of Crane Company (NYSE:CR) by 143.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,328 shares of the conglomerate’s stock after purchasing an additional 6,680 shares during the period. GSA Capital Partners LLP’s holdings in Crane were worth $899,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Crane by 2.0% in the second quarter. BlackRock Inc. now owns 4,077,492 shares of the conglomerate’s stock valued at $323,668,000 after purchasing an additional 80,055 shares during the period. AQR Capital Management LLC increased its position in Crane by 31.7% during the first quarter. AQR Capital Management LLC now owns 1,533,772 shares of the conglomerate’s stock worth $114,772,000 after purchasing an additional 369,589 shares during the last quarter. Principal Financial Group Inc. increased its position in Crane by 115.7% during the second quarter. Principal Financial Group Inc. now owns 1,273,069 shares of the conglomerate’s stock worth $101,056,000 after purchasing an additional 682,934 shares during the last quarter. Bank of New York Mellon Corp increased its position in Crane by 1.8% during the second 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. Finally, Prudential Financial Inc. increased its position in Crane by 69.0% during the second quarter. Prudential Financial Inc. now owns 640,052 shares of the conglomerate’s stock worth $50,807,000 after purchasing an additional 261,354 shares during the last quarter. Institutional investors and hedge funds own 69.42% of the company’s stock.
In other news, VP Kristian Robert Salovaara sold 9,200 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $76.20, for a total value of $701,040.00. Following the transaction, the vice president now directly owns 24,786 shares in the company, valued at approximately $1,888,693.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Edward S. Switter sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $74.03, for a total value of $518,210.00. Following the completion of the transaction, the vice president now owns 23,873 shares in the company, valued at $1,767,318.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,200 shares of company stock worth $1,661,630. 3.10% of the stock is currently owned by insiders.
Several research firms have weighed in on CR. Zacks Investment Research upgraded shares of Crane from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Monday, July 17th. BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Finally, Stifel Nicolaus restated a “hold” rating and set a $84.00 price target on shares of Crane in a report on Thursday, July 6th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $76.50.
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Crane Company (NYSE CR) opened at 80.81 on Tuesday. The company’s 50 day moving average is $75.59 and its 200-day moving average is $77.22. The stock has a market cap of $4.82 billion, a PE ratio of 36.82 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 earnings results on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $702.53 million. During the same period in the previous year, the firm earned $1.21 earnings per share. Crane’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Crane Company will post $4.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Tuesday, August 29th. Crane’s dividend payout ratio is currently 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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