UBS Asset Management Americas Inc. increased its stake in Crane Co. (NYSE:CR) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,964 shares of the company’s stock after buying an additional 401 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.08% of Crane worth $2,550,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Group LTD increased its position in shares of Crane by 113.5% in the first quarter. BlackRock Group LTD now owns 424,658 shares of the company’s stock valued at $22,871,000 after buying an additional 225,790 shares during the period. SG Americas Securities LLC increased its position in shares of Crane by 1,176.5% in the second quarter. SG Americas Securities LLC now owns 243,517 shares of the company’s stock valued at $13,812,000 after buying an additional 224,440 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Crane during the second quarter valued at about $11,362,000. Foundry Partners LLC bought a new position in shares of Crane during the second quarter valued at about $10,643,000. Finally, Boston Advisors LLC bought a new position in shares of Crane during the second quarter valued at about $9,568,000. Institutional investors own 67.40% of the company’s stock.
Crane Co. (NYSE:CR) traded down 2.43% during trading on Friday, hitting $61.31. 40,834 shares of the stock were exchanged. Crane Co. has a 52 week low of $41.68 and a 52 week high of $65.88. The stock has a market cap of $3.58 billion, a P/E ratio of 14.74 and a beta of 1.37. The stock has a 50 day moving average of $63.26 and a 200-day moving average of $58.89.
Crane (NYSE:CR) last issued its earnings results on Monday, July 25th. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.19. The company had revenue of $712.20 million for the quarter, compared to analysts’ expectations of $697.13 million. Crane had a net margin of 9.01% and a return on equity of 21.25%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. Equities analysts expect that Crane Co. will post ($0.17) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 31st were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, August 29th. Crane’s payout ratio is presently 31.73%.
Several research analysts have recently issued reports on CR shares. Bank of America Corp. upgraded shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Friday, July 29th. Zacks Investment Research downgraded Crane from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Canaccord Genuity restated a “hold” rating and issued a $60.00 price objective on shares of Crane in a report on Friday, June 17th. Credit Suisse Group AG restated a “hold” rating on shares of Crane in a report on Friday, August 5th. Finally, Alembic Global Advisors began coverage on Crane in a report on Monday, July 11th. They issued a “neutral” rating and a $61.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $62.00.
In related news, insider Louis V. Pinkham sold 16,576 shares of Crane stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $65.32, for a total value of $1,082,744.32. Following the transaction, the insider now owns 20,449 shares in the company, valued at approximately $1,335,728.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP A D. Pantaleoni sold 5,000 shares of Crane stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $62.74, for a total transaction of $313,700.00. Following the completion of the transaction, the vice president now owns 9,876 shares in the company, valued at approximately $619,620.24. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
Crane Company Profile
Crane Co is a diversified manufacturer of engineered industrial products. The Company operates in four segments: 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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