Crane Co. (NYSE:CR) Short Interest Up 6.6% in October

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Crane Co. (NYSE:CR) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 394,900 shares, an increase of 6.6% from the September 30th total of 370,600 shares. Based on an average daily trading volume, of 301,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.8% of the company’s stock are short sold.

CR has been the topic of several research reports. Vertical Research cut shares of Crane from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. ValuEngine upgraded shares of Crane from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Canaccord Genuity cut shares of Crane from a “buy” rating to a “hold” rating and cut their target price for the company from $105.00 to $85.00 in a research note on Wednesday, October 30th. DA Davidson lifted their price objective on shares of Crane from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Buckingham Research cut shares of Crane from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $102.00 to $79.00 in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Crane has a consensus rating of “Hold” and a consensus target price of $91.64.

Shares of CR opened at $82.88 on Monday. The company has a current ratio of 2.24, a quick ratio of 1.56 and a debt-to-equity ratio of 0.55. Crane has a 12-month low of $67.18 and a 12-month high of $92.57. The firm has a 50-day moving average price of $79.65 and a 200 day moving average price of $80.83. The firm has a market capitalization of $4.97 billion, a P/E ratio of 13.84, a P/E/G ratio of 3.98 and a beta of 1.35.

Crane (NYSE:CR) last posted its quarterly earnings data on Monday, October 28th. The conglomerate reported $1.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.15). The business had revenue of $772.30 million during the quarter, compared to analysts’ expectations of $802.46 million. Crane had a net margin of 10.20% and a return on equity of 22.76%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. Equities research analysts predict that Crane will post 6.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, November 29th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.88%. Crane’s dividend payout ratio (DPR) is presently 26.04%.

A number of large investors have recently bought and sold shares of CR. BBVA USA Bancshares Inc. acquired a new position in Crane in the 3rd quarter valued at about $317,000. First Trust Advisors LP boosted its holdings in Crane by 36.7% in the 3rd quarter. First Trust Advisors LP now owns 76,293 shares of the conglomerate’s stock worth $6,152,000 after acquiring an additional 20,479 shares during the period. Donaldson Capital Management LLC acquired a new position in shares of Crane in the 3rd quarter valued at approximately $291,000. Creative Planning raised its position in shares of Crane by 0.8% in the 3rd quarter. Creative Planning now owns 22,277 shares of the conglomerate’s stock valued at $1,796,000 after purchasing an additional 166 shares in the last quarter. Finally, Synovus Financial Corp raised its position in shares of Crane by 2.3% during the 3rd quarter. Synovus Financial Corp now owns 7,712 shares of the conglomerate’s stock valued at $622,000 after acquiring an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 65.36% of the company’s stock.

Crane Company Profile

Crane Co manufactures and sells engineered industrial products in the United States and internationally. The company's Fluid Handling segment provides 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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