Cubist Systematic Strategies LLC Buys 8,580 Shares of Crane Co. (CR)

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Cubist Systematic Strategies LLC increased its stake in shares of Crane Co. (NYSE:CR) by 130.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,141 shares of the conglomerate’s stock after purchasing an additional 8,580 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Crane were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CR. Amalgamated Bank boosted its stake in Crane by 6.1% in the 4th quarter. Amalgamated Bank now owns 10,105 shares of the conglomerate’s stock worth $902,000 after buying an additional 578 shares during the last quarter. Mason Street Advisors LLC boosted its stake in Crane by 2.5% in the 1st quarter. Mason Street Advisors LLC now owns 25,464 shares of the conglomerate’s stock worth $2,362,000 after buying an additional 610 shares during the last quarter. Brinker Capital Inc. boosted its stake in Crane by 8.4% in the 1st quarter. Brinker Capital Inc. now owns 9,971 shares of the conglomerate’s stock worth $925,000 after buying an additional 773 shares during the last quarter. M&T Bank Corp boosted its stake in Crane by 22.0% in the 4th quarter. M&T Bank Corp now owns 4,695 shares of the conglomerate’s stock worth $418,000 after buying an additional 846 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in Crane by 3.1% in the 1st quarter. Stifel Financial Corp now owns 28,343 shares of the conglomerate’s stock worth $2,626,000 after buying an additional 847 shares during the last quarter. Hedge funds and other institutional investors own 69.21% of the company’s stock.

CR has been the topic of a number of research analyst reports. Zacks Investment Research lowered Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. UBS Group raised Crane from a “neutral” rating to a “positive” rating in a research note on Wednesday, April 25th. DA Davidson initiated coverage on Crane in a research note on Wednesday, March 21st. They issued a “buy” rating and a $108.00 price target on the stock. Boenning Scattergood reissued a “neutral” rating on shares of Crane in a research note on Monday, February 26th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $110.00 price target on shares of Crane in a research note on Monday, March 12th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Crane currently has an average rating of “Buy” and a consensus target price of $105.89.

NYSE CR opened at $83.78 on Tuesday. The stock has a market capitalization of $4.98 billion, a PE ratio of 18.49, a PEG ratio of 1.43 and a beta of 1.20. Crane Co. has a 1-year low of $71.23 and a 1-year high of $102.65. The company has a current ratio of 1.79, a quick ratio of 1.35 and a debt-to-equity ratio of 0.79.

Crane (NYSE:CR) last released its quarterly earnings data on Monday, April 23rd. The conglomerate reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.04. The business had revenue of $799.00 million for the quarter, compared to analyst estimates of $802.47 million. Crane had a return on equity of 21.08% and a net margin of 6.09%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. sell-side analysts expect that Crane Co. will post 5.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Thursday, May 31st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, May 30th. Crane’s dividend payout ratio (DPR) is presently 30.91%.

About Crane

Crane Co manufactures and sells engineered industrial products worldwide. The company's Fluid Handling segment offers process valves and related products, including on/off valves and related products for application in the chemical, oil and gas, power, and general industrial end markets; valves and related products for the non-residential construction, general industrial, and municipal markets; and pumps and related products for water and wastewater applications in the industrial, municipal, commercial, and military markets.

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Institutional Ownership by Quarter for Crane (NYSE:CR)

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