Crane Sees Large Increase in Short Interest (CR)
Shares of Crane (NYSE:CR) were the target of a large growth in short interest in 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, AnalystRatingsNetwork reports. Based on an average daily volume of 298,585 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.6% of the shares of the stock are sold short.
In other Crane news, CFO Richard Maue unloaded 1,100 shares of Crane stock on the open market in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $73.61, for a total value of $80,971.00. Following the completion of the sale, the chief financial officer now directly owns 21,115 shares in the company, valued at approximately $1,554,275. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
CR has been the subject of a number of recent research reports. 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 (NYSE:CR) opened at 73.48 on Monday. Crane has a 1-year low of $55.86 and a 1-year high of $74.66. The stock’s 50-day moving average is $71.65 and its 200-day moving average is $67.90. The company has a market cap of $4.324 billion and a P/E ratio of 20.52.
Crane (NYSE:CR) last announced its earnings results on Monday, April 28th. The company reported $1.05 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts expect that Crane will post $4.69 EPS 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 1.63%. The ex-dividend date is Wednesday, May 28th.
Crane Co (NYSE:CR) is a diversified manufacturer of engineered industrial products.
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