Short-term stake in Crane Co. (NYSE:CR) rises 28.2%
Crane Co. (NYSE: CR – Get a rating) was the target of strong short-term interest growth in April. As of April 15, there was short interest totaling 916,000 shares, up 28.2% from the March 31 total of 714,700 shares. Based on an average daily volume of 304,100 shares, the day-to-cover ratio is currently 3.0 days. Approximately 1.9% of the company’s shares are sold short.
Shares of Crane equipment opened at $98.26 on Wednesday. Crane has a 12-month low of $84.68 and a 12-month high of $114.87. The stock has a market capitalization of $5.52 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.28 and a beta of 1.62. The company has a quick ratio of 1.48, a current ratio of 2.07 and a leverage ratio of 0.49. The company’s 50-day moving average is $104.35 and its 200-day moving average is $102.78.
Crane (NYSE: CR – Get a rating) last released its quarterly results on Monday, April 25. The conglomerate reported earnings per share of $1.81 for the quarter, beating consensus analyst estimates of $1.68 by $0.13. Crane had a return on equity of 22.54% and a net margin of 13.49%. The company posted revenue of $801.10 million for the quarter, compared to $800.76 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $1.66. The company’s revenue for the quarter increased 2.8% on an annual basis. On average, sell-side analysts expect Crane to post 7.29 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 8. Investors of record on Tuesday, May 31 will receive a dividend of $0.47. This represents a dividend of $1.88 on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, May 27. Crane’s dividend payout ratio (DPR) is currently 25.68%.
Institutional investors and hedge funds have recently been buying and selling stocks. CWM LLC bought a new position in Crane during Q4 worth $33,000. Paragon Capital Management Ltd bought a new position in Crane during Q4 for a value of $34,000. Quadrant Capital Group LLC increased its position in Crane by 58.9% during the 4th quarter. Quadrant Capital Group LLC now owns 375 shares of the conglomerate worth $38,000 after purchasing an additional 139 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Crane by 49.3% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 427 shares of the conglomerate worth $40,000 after purchasing an additional 141 shares during the period. Finally, Quent Capital LLC bought a new position in Crane during Q4 worth $46,000. Institutional investors and hedge funds own 73.16% of the company’s shares.
Several stock analysts have recently released reports on the company. StockNews.com downgraded Crane from a “Strong Buy” rating to a “Buy” rating in a Wednesday, April 27 research report. Stifel Nicolaus reduced his price target on Crane from $137.00 to $134.00 in a Monday, April 18 research report. Zacks Investment Research downgraded Crane from a “hold” rating to a “sell” rating and set a price target of $100.00 for the company. in a research report on Thursday, April 28. Finally, Morgan Stanley raised its price target on Crane from $111.00 to $116.00 and gave the stock an “equal weight” rating in a Monday, Jan. 31 research report. One equity research analyst rated the stock with a sell rating, one gave the company a hold rating, and four gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $119.60.
About the crane (Get a rating)
Crane Co, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, United Kingdom, Continental Europe and internationally. The Aeronautics and Electronics segment offers original equipment and aftermarket parts under the brands Hydro-Aire, ELDEC, Lear Romec, PL
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