SummerHaven Investment Management LLC Boosts Position in Crane (NYSE:CR)

SummerHaven Investment Management LLC grew its stake in shares of Crane (NYSE:CR) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 7,926 shares of the conglomerate’s stock after purchasing an additional 99 shares during the period. SummerHaven Investment Management LLC’s holdings in Crane were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp raised its position in Crane by 40.9% in the 4th quarter. Fifth Third Bancorp now owns 341 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 99 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Crane in the 4th quarter valued at about $203,000. DAVENPORT & Co LLC purchased a new stake in Crane during the 4th quarter valued at approximately $207,000. Cadent Capital Advisors LLC acquired a new stake in Crane during the 4th quarter worth approximately $246,000. Finally, Cetera Trust Company N.A purchased a new position in shares of Crane in the 4th quarter valued at approximately $247,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

Crane Price Performance

Shares of Crane stock traded down $1.75 on Monday, hitting $142.60. The company’s stock had a trading volume of 83,984 shares, compared to its average volume of 243,506. The company has a market capitalization of $8.14 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 1.93 and a beta of 1.49. Crane has a 52-week low of $67.28 and a 52-week high of $146.29. The firm has a fifty day moving average price of $131.24 and a 200-day moving average price of $116.77. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.29.

Crane (NYSE:CR) last announced its quarterly earnings data on Monday, April 22nd. The conglomerate reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The business had revenue of $565.30 million for the quarter, compared to the consensus estimate of $546.39 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities research analysts expect that Crane will post 7.87 earnings per share for the current fiscal year.

Crane Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 31st will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.82 dividend on an annualized basis and a yield of 0.58%. Crane’s dividend payout ratio (DPR) is 21.98%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CR. StockNews.com upgraded shares of Crane from a “hold” rating to a “buy” rating in a research report on Saturday. DA Davidson boosted their price target on shares of Crane from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Bank of America raised their price objective on shares of Crane from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Vertical Research upgraded Crane from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, Stifel Nicolaus raised their price target on Crane from $150.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.00.

Crane Company Profile

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.