American Century Companies Inc. Acquires 29,150 Shares of Crane Company (CR)
American Century Companies Inc. lifted its holdings in Crane Company (NYSE:CR) by 41.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,750 shares of the conglomerate’s stock after purchasing an additional 29,150 shares during the period. American Century Companies Inc. owned about 0.17% of Crane worth $7,839,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. ClariVest Asset Management LLC lifted its stake in shares of Crane by 15.7% in the 1st quarter. ClariVest Asset Management LLC now owns 1,476 shares of the conglomerate’s stock worth $110,000 after purchasing an additional 200 shares during the period. Global X Management Co. LLC lifted its stake in shares of Crane by 221.0% in the 2nd 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 bought a new position in shares of Crane in the 2nd quarter worth approximately $204,000. Broderick Brian C bought a new position in shares of Crane in the 1st quarter worth approximately $202,000. Finally, World Asset Management Inc lifted its stake in shares of 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 during the period. Hedge funds and other institutional investors own 70.70% of the company’s stock.
CR has been the topic of several recent research reports. Canaccord Genuity upgraded shares of Crane from a “hold” rating to a “buy” rating and increased their price objective for the stock from $78.00 to $92.00 in a research note on Tuesday, May 16th. 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 research note on Thursday, May 18th. ValuEngine upgraded shares of Crane from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $84.00 price objective on shares of Crane in a research note on Thursday, July 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Crane presently has a consensus rating of “Buy” and a consensus target price of $76.88.
Shares of Crane Company (NYSE:CR) opened at 72.76 on Thursday. Crane Company has a 1-year low of $59.81 and a 1-year high of $84.34. The firm’s 50-day moving average is $75.67 and its 200-day moving average is $76.78. The company has a market cap of $4.34 billion, a PE ratio of 33.15 and a beta of 1.11.
Crane (NYSE:CR) last released its quarterly earnings results on Monday, July 24th. The conglomerate reported $1.17 EPS for the quarter, hitting the consensus estimate of $1.17. The company had revenue of $702.50 million for the quarter, compared to analyst estimates of $702.53 million. Crane had a return on equity of 20.57% and a net margin of 4.79%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. On average, equities analysts forecast that Crane Company will post $4.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.81%. The ex-dividend date is Tuesday, August 29th. Crane’s dividend payout ratio (DPR) is 60.83%.
In other Crane news, VP Edward S. Switter sold 7,000 shares of Crane 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 transaction, the vice president now owns 23,873 shares of the company’s stock, valued at $1,767,318.19. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director E Thayer Bigelow sold 6,000 shares of Crane stock in a transaction that occurred on 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. 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 corporate insiders.
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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