OxFORD Asset Management LLP Takes Position in Crane Company (CR)
OxFORD Asset Management LLP bought a new position in shares of Crane Company (NYSE:CR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 38,214 shares of the conglomerate’s stock, valued at approximately $3,033,000. OxFORD Asset Management LLP owned 0.06% of Crane as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CR. Public Employees Retirement Association of Colorado boosted its position in shares of Crane by 0.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 9,932 shares of the conglomerate’s stock valued at $788,000 after purchasing an additional 27 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Crane by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,382 shares of the conglomerate’s stock worth $586,000 after purchasing an additional 38 shares in the last quarter. Bragg Financial Advisors Inc increased its stake in Crane by 0.3% in the 1st quarter. Bragg Financial Advisors Inc now owns 27,275 shares of the conglomerate’s stock worth $2,041,000 after purchasing an additional 70 shares in the last quarter. World Asset Management Inc increased its stake in Crane by 2.4% in the 1st quarter. World Asset Management Inc now owns 3,093 shares of the conglomerate’s stock worth $231,000 after purchasing an additional 72 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Crane by 2.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,795 shares of the conglomerate’s stock worth $301,000 after purchasing an additional 78 shares in the last quarter. 69.42% of the stock is currently owned by institutional investors.
In other Crane news, VP Kristian Robert Salovaara sold 9,200 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $76.20, for a total transaction of $701,040.00. Following the completion of the transaction, the vice president now owns 24,786 shares in the company, valued at approximately $1,888,693.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director E Thayer Bigelow sold 6,000 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $73.73, for a total value of $442,380.00. The disclosure for this sale can be found here. Insiders sold a total of 22,200 shares of company stock worth $1,661,630 over the last ninety days. 3.10% of the stock is currently owned by insiders.
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. Crane Company has a 12 month low of $59.81 and a 12 month high of $84.34. The stock has a market capitalization of $4.82 billion, a P/E ratio of 36.82 and a beta of 1.11.
Crane (NYSE:CR) last issued its quarterly earnings data on Monday, July 24th. The conglomerate reported $1.17 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $702.50 million during the quarter, compared to the consensus estimate of $702.53 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Crane Company will post $4.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 31st were given a $0.33 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $1.32 annualized dividend and a yield of 1.63%. Crane’s dividend payout ratio is currently 60.83%.
A number of analysts have commented on the stock. BidaskClub lowered shares of Crane from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research downgraded shares of Crane from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Wolfe Research started coverage on shares of Crane in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Stifel Nicolaus restated a “hold” rating and set a $85.00 price target on shares of Crane in a report on Friday, July 14th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $76.50.
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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