Crane (NYSE:CR) Short Interest Update

by · The Cerbat Gem

Crane (NYSE:CR – Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 715,700 shares, a growth of 18.9% from the August 15th total of 601,700 shares. Based on an average daily trading volume, of 224,800 shares, the short-interest ratio is currently 3.2 days. Currently, 1.3% of the company’s stock are sold short.

Crane Stock Performance

CR stock traded down $0.30 during midday trading on Tuesday, reaching $152.61. 237,118 shares of the company were exchanged, compared to its average volume of 229,410. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.18 and a quick ratio of 0.88. The business has a 50-day moving average price of $150.51 and a two-hundred day moving average price of $143.32. Crane has a one year low of $82.57 and a one year high of $162.34. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 40.92, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77.

Crane (NYSE:CR – Get Free Report) last released its quarterly earnings data on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. Crane had a net margin of 13.10% and a return on equity of 24.45%. The firm had revenue of $581.00 million during the quarter, compared to analysts’ expectations of $568.33 million. During the same period in the previous year, the business posted $1.10 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities research analysts forecast that Crane will post 7.87 EPS for the current year.

Crane Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Friday, August 30th were given a dividend of $0.205 per share. The ex-dividend date was Friday, August 30th. This represents a $0.82 dividend on an annualized basis and a yield of 0.54%. Crane’s dividend payout ratio (DPR) is 21.98%.

Institutional Investors Weigh In On Crane

A number of institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in shares of Crane in the second quarter valued at about $884,000. Algert Global LLC raised its stake in Crane by 20.4% during the second quarter. Algert Global LLC now owns 17,249 shares of the conglomerate’s stock worth $2,501,000 after acquiring an additional 2,921 shares in the last quarter. Driehaus Capital Management LLC raised its stake in Crane by 12.5% during the second quarter. Driehaus Capital Management LLC now owns 384,588 shares of the conglomerate’s stock worth $55,758,000 after acquiring an additional 42,743 shares in the last quarter. Select Equity Group L.P. acquired a new position in Crane during the second quarter worth about $21,159,000. Finally, Lighthouse Investment Partners LLC raised its stake in Crane by 1.2% during the second quarter. Lighthouse Investment Partners LLC now owns 14,000 shares of the conglomerate’s stock worth $2,030,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CR. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Crane from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of Crane from $157.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Bank of America lifted their price objective on shares of Crane from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.00.

Check Out Our Latest Research Report on Crane

Crane Company Profile

(Get Free Report)

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.

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