Crane CFO Richard A. Maue Sells 1,100 Shares (CR)
Crane (NYSE:CR) CFO Richard A. Maue sold 1,100 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $73.61, for a total transaction of $80,971.00. Following the transaction, the chief financial officer now directly owns 21,115 shares of the company’s stock, valued at approximately $1,554,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Crane (NYSE:CR) traded up 0.37% on Wednesday, hitting $72.90. The stock had a trading volume of 158,437 shares. Crane has a 52 week low of $55.86 and a 52 week high of $74.66. The stock’s 50-day moving average is $71.56 and its 200-day moving average is $67.79. The company has a market cap of $4.289 billion and a P/E ratio of 20.40. Crane also was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 813,308 shares, a growth of 49.1% from the April 15th total of 545,473 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average trading volume of 298,585 shares, the days-to-cover ratio is presently 2.7 days.
Crane (NYSE:CR) last announced its earnings results on Monday, April 28th. The company reported $1.05 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.05. The company had revenue of $716.83 million for the quarter, compared to the consensus estimate of $725.97 million. During the same quarter last year, the company posted $1.04 earnings per share. Crane’s revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that Crane will post $4.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 10th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, May 28th.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. upgraded shares of Crane from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th. They now have a $83.00 price target on the stock, up previously from $74.00. Analysts at FBR Capital Markets raised their price target on shares of Crane from $73.00 to $78.00 in a research note on Friday, February 28th. They now have an “outperform” rating on the stock.
Crane Co (NYSE:CR) is a diversified manufacturer of engineered industrial products.
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