Crane Co. (CR) : Tradelink Capital added new position in Crane Co. during the most recent quarter end. The investment management firm now holds 4,118 shares of Crane Co. which is valued at $259,805 , the company said in a statement filed on Aug 1, 2016 with the SEC.Crane Co. makes up approximately 1.20% of Tradelink Capital’s portfolio.
Other Hedge Funds, Including , Quadrant Capital Group boosted its stake in CR in the latest quarter, The investment management firm added 27 additional shares and now holds a total of 480 shares of Crane Co. which is valued at $29,904. Crane Co. makes up approx 0.02% of Quadrant Capital Group’s portfolio.Deprince Race Zollo Inc reduced its stake in CR by selling 466,092 shares or 92.33% in the most recent quarter. The Hedge Fund company now holds 38,732 shares of CR which is valued at $2,401,771. Crane Co. makes up approx 0.05% of Deprince Race Zollo Inc’s portfolio.Ibm Retirement Fund reduced its stake in CR by selling 44 shares or 0.89% in the most recent quarter. The Hedge Fund company now holds 4,916 shares of CR which is valued at $288,127. Crane Co. makes up approx 0.01% of Ibm Retirement Fund’s portfolio. Perkins Capital Management Inc added CR to its portfolio by purchasing 8,200 company shares during the most recent quarter which is valued at $480,602. Crane Co. makes up approx 0.53% of Perkins Capital Management Inc’s portfolio.
Crane Co. closed down -0.08 points or -0.13% at $63.01 with 2,15,100 shares getting traded on Thursday. Post opening the session at $63.17, the shares hit an intraday low of $63.01 and an intraday high of $63.53 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
On the company’s financial health, Crane Co. reported $1.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $1.02. The company had revenue of $712.20 million for the quarter, compared to analysts expectations of $696.64 million. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS.
Investors should note that on Jul 25, 2016, Crane Co. announced a cash dividend of $0.3300. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 9, 2016.
Many Wall Street Analysts have commented on Crane Co.. Crane Co. was Upgraded by BofA/Merrill to ” Neutral” on Jul 29, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 63 from a previous price target of $57 .Alembic Global Advisors Initiated Crane Co. on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $61.
Crane Co. (Crane) is a diversified manufacturer of engineered industrial products. The Company operates in four segments: Fluid Handling which is a provider of engineered fluid handling equipment including valves pumps lined pipe and instrumentation for critical performance applications; Payment & Merchandising Technologies which is comprised of Crane Payment Innovations and Merchandising Systems; Aerospace & Electronics which has two groups: the Aerospace Group and the Electronics Group and Engineered Materials which manufactures fiberglass-reinforced plastic panels for the transportation industry RVs and industrial building applications among others. The Companys markets are chemical and pharmaceutical processing oil and gas refining power nuclear building services and utilities automated payment and merchandising aerospace defense electronics recreational vehicle (RV) non-residential construction and transportation.