Crane Holdings, Co. said on January 23, 2023 that its board of directors declared a regular quarterly dividend of $0.47 per share ($1.88 annualized). Shareholders of record as of February 27, 2023 will receive the payment on March 8, 2023. Previously, the company paid $0.47 per share.
At the current share price of $113.90 / share, the stock's dividend yield is 1.65%. Looking back five years and taking a sample every week, the average dividend yield has been 2.03%, the lowest has been 1.42%, and the highest has been 4.45%. The standard deviation of yields is 0.52 (n=236).
The current dividend yield is 0.72 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 13.37% Upside
As of January 31, 2023, the average one-year price target for Crane Holdings, Co. is $129.13. The forecasts range from a low of $123.22 to a high of $136.50. The average price target represents an increase of 13.37% from its latest reported closing price of $113.90.
The projected annual revenue for Crane Holdings, Co. is $3,557MM, an increase of 5.40%. The projected annual EPS is $8.41, an increase of 27.20%.
Fund Sentiment
There are 785 funds or institutions reporting positions in Crane Holdings, Co.. This is an increase of 32 owner(s) or 4.25%.
Average portfolio weight of all funds dedicated to US:CR is 0.2684%, a decrease of 1.0930%. Total shares owned by institutions increased in the last three months by 384.57% to 48,423K shares.
What are large shareholders doing?
Lsv Asset Management holds 1,629,882 shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 1,619,755 shares, representing an increase of 0.62%. The firm increased its portfolio allocation in CR by 9.31% over the last quarter.
Gamco Investors, Inc. Et Al holds 1,451,020 shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 1,479,915 shares, representing a decrease of 1.99%. The firm increased its portfolio allocation in CR by 5.28% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,393,395 shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 1,369,998 shares, representing an increase of 1.68%. The firm increased its portfolio allocation in CR by 2.19% over the last quarter.
Thrivent Financial For Lutherans holds 1,338,406 shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 1,313,476 shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in CR by 51.89% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,335,445 shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 1,317,400 shares, representing an increase of 1.35%. The firm increased its portfolio allocation in CR by 5.64% over the last quarter.
Crane Holdings Background Information
(This description is provided by the company.)
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. The Company has four business segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics and Engineered Materials. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
