Todays Report: The Deprince Race & Zollo Inc. reaches $2,197,000 position of Crane Co. (CR)

The Deprince Race & Zollo Inc. reaches $2,197,000 position  of Crane Co. (CR)

Deprince Race & Zollo Inc. decreased its position in Crane Co. (NYSE:CR) by 92.3% during the second quarter, Holdings Channel reports. The institutional investor owned 38,732 shares of the company’s stock after selling 466,092 shares during the period. Deprince Race & Zollo Inc.’s holdings in Crane were worth $2,197,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Group LTD raised 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 worth $22,871,000 after buying an additional 225,790 shares in the last quarter. Foundry Partners LLC bought a new position in shares of Crane during the second quarter worth $10,643,000. Boston Advisors LLC bought a new position in shares of Crane during the second quarter worth $9,568,000. Teachers Advisors Inc. raised its position in shares of Crane by 53.0% in the first quarter. Teachers Advisors Inc. now owns 441,217 shares of the company’s stock worth $23,764,000 after buying an additional 152,764 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Crane by 61.6% in the first quarter. Renaissance Technologies LLC now owns 352,400 shares of the company’s stock worth $18,980,000 after buying an additional 134,300 shares in the last quarter. Hedge funds and other institutional investors own 67.40% of the company’s stock.

Shares of Crane Co. (NYSE:CR) traded down 2.88% during midday trading on Friday, hitting $61.03. 228,778 shares of the stock traded hands. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 14.67 and a beta of 1.37. The company’s 50 day moving average price is $63.26 and its 200-day moving average price is $58.89. Crane Co. has a 12-month low of $41.68 and a 12-month high of $65.88.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, July 25th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.02 by $0.19. The company earned $712.20 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $1.06 EPS. On average, equities research analysts expect that Crane Co. will post ($0.17) EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 31st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Monday, August 29th. Crane’s payout ratio is presently 31.73%.

Several equities analysts have commented on the stock. Bank of America Corp. upgraded shares of Crane from an “underperform” rating to a “neutral” rating and set a $70.00 price objective for the company in a research report on Friday, July 29th. Zacks Investment Research lowered shares of Crane from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Canaccord Genuity reiterated a “hold” rating and set a $60.00 price objective on shares of Crane in a research report on Friday, June 17th. Credit Suisse Group AG reiterated a “hold” rating on shares of Crane in a research report on Friday, August 5th. Finally, Alembic Global Advisors assumed coverage on shares of Crane in a research report on Monday, July 11th. They set a “neutral” rating and a $61.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Crane currently has a consensus rating of “Hold” and a consensus target price of $62.00.

In related news, insider Thomas J. Craney sold 3,915 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $64.54, for a total value of $252,674.10. Following the completion of the sale, the insider now owns 20,062 shares of the company’s stock, valued at approximately $1,294,801.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP A D. Pantaleoni sold 5,000 shares of the business’s 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 sale, the vice president now directly owns 9,876 shares of the company’s stock, 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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