Mutual of America Capital Management LLC reduced its position in shares of Crane Co. (NYSE:CR) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,327 shares of the company’s stock after selling 92 shares during the period. Mutual of America Capital Management LLC’s holdings in Crane were worth $2,352,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Stanley Laman Group Ltd. bought a new stake in shares of Crane during the third quarter worth $192,000. LS Investment Advisors LLC increased its stake in shares of Crane by 74.5% in the second quarter. LS Investment Advisors LLC now owns 3,056 shares of the company’s stock worth $173,000 after buying an additional 1,305 shares in the last quarter. Argyle Capital Management Inc. bought a new stake in shares of Crane during the third quarter worth $202,000. World Asset Management Inc bought a new stake in shares of Crane during the third quarter worth $202,000. Finally, Chicago Equity Partners LLC bought a new stake in shares of Crane during the third quarter worth $205,000. Institutional investors own 67.86% of the company’s stock.
Crane Co. (NYSE:CR) traded down 0.13% during mid-day trading on Monday, reaching $75.42. 361,866 shares of the company traded hands. The company’s 50 day moving average price is $67.88 and its 200 day moving average price is $62.32. The firm has a market capitalization of $4.42 billion, a P/E ratio of 17.66 and a beta of 1.13. Crane Co. has a 12-month low of $41.68 and a 12-month high of $76.09.
Crane (NYSE:CR) last posted its quarterly earnings results on Monday, October 24th. The company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.06. Crane had a return on equity of 20.59% and a net margin of 9.17%. The business earned $694 million during the quarter, compared to the consensus estimate of $666.89 million. During the same period in the prior year, the company posted ($0.13) EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts predict that Crane Co. will post $4.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 30th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $1.32 annualized dividend and a yield of 1.75%. Crane’s payout ratio is 30.99%.
CR has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Crane from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Oppenheimer Holdings Inc. started coverage on shares of Crane in a research note on Thursday, November 17th. They issued a “market perform” rating on the stock. Stifel Nicolaus lifted their price target on shares of Crane from $65.00 to $69.00 and gave the stock a “hold” rating in a research note on Wednesday, October 26th. Avondale Partners reissued a “market perform” rating on shares of Crane in a research note on Wednesday, October 12th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Crane in a research note on Friday, August 5th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Crane has an average rating of “Hold” and an average target price of $60.08.
In other news, VP A D. Pantaleoni sold 5,000 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $74.29, for a total transaction of $371,450.00. Following the completion of the transaction, the vice president now directly owns 9,876 shares in the company, valued at approximately $733,688.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip R. Lochner sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $68.26, for a total value of $136,520.00. Following the transaction, the director now owns 2,350 shares of the company’s stock, valued at $160,411. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.
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.