20,166 Shares in Crane Company (CR) Purchased by Laurion Capital Management LP
Laurion Capital Management LP acquired a new stake in shares of Crane Company (NYSE:CR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,166 shares of the conglomerate’s stock, valued at approximately $1,601,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Elk Creek Partners LLC purchased a new position in Crane during the second quarter valued at approximately $3,293,000. BlueMountain Capital Management LLC grew its position in Crane by 213.8% during the second quarter. BlueMountain Capital Management LLC now owns 46,419 shares of the conglomerate’s stock valued at $3,685,000 after purchasing an additional 31,628 shares in the last quarter. Amalgamated Bank grew its position in Crane by 27.0% during the second quarter. Amalgamated Bank now owns 9,816 shares of the conglomerate’s stock valued at $779,000 after purchasing an additional 2,084 shares in the last quarter. BlackRock Inc. grew its position in Crane by 2.0% during 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 in the last quarter. Finally, Nationwide Fund Advisors grew its position in Crane by 0.8% during the second quarter. Nationwide Fund Advisors now owns 255,023 shares of the conglomerate’s stock valued at $20,244,000 after purchasing an additional 2,004 shares in the last quarter. 69.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on CR shares. Zacks Investment Research raised shares of Crane from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Friday, May 26th. ValuEngine raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub raised shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $84.00 target price on shares of Crane in a research report on Thursday, July 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Crane has an average rating of “Buy” and an average target price of $76.88.
In related news, Director E Thayer Bigelow sold 6,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $73.73, for a total value of $442,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kristian Robert Salovaara sold 9,200 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were 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 directly owns 24,786 shares of the company’s stock, valued at $1,888,693.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,200 shares of company stock valued at $1,661,630 over the last ninety days. Company insiders own 3.10% of the company’s stock.
Shares of Crane Company (NYSE CR) opened at 78.11 on Friday. Crane Company has a 52 week low of $59.81 and a 52 week high of $84.34. The firm has a market capitalization of $4.66 billion, a PE ratio of 35.59 and a beta of 1.11. The stock has a 50 day moving average of $74.59 and a 200-day moving average of $76.89.
Crane (NYSE:CR) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $702.53 million. Crane had a net margin of 4.79% and a return on equity of 20.57%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. Equities analysts anticipate that Crane Company will post $4.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 31st were paid 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 dividend yield of 1.69%. Crane’s dividend payout ratio is currently 60.83%.
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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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