Brandywine Global Investment Management LLC has recently invested in Crane (NYSE:CR), acquiring 24,456 shares of the company’s stock with an approximate value of $2,457,000. This comes following a recent announcement from Crane detailing the upcoming quarterly dividend which will be dispersed among shareholders on Thursday, June 8th. Shareholders of record as of Wednesday, May 31st will receive a $0.18 dividend per share. This represents an annualized dividend payout ratio of $0.72 and a yield of 0.95%. The ex-dividend date was Tuesday, May 30th.
This news from Crane comes after their CEO Max H. Mitchell sold 37,495 shares at an average price of $76.48 on Monday, May 15th with a total value exceeding $2.8 million. Following the sale, he directly owns approximately $24,674,589.44 worth of Crane stock.
Furthermore, VP Edward S.Switter also sold some shares earlier this year in February totalling over $5 million at an average price per share of $119.88.
It is worth noting that insiders currently hold only 2.40% of the total stock and hence market experts recommend long-term holding strategies for investors in line with proper investment principles such as keeping portfolio diverse and using adequate risk management techniques.
In conclusion, Crane’s latest announcement regarding the upcoming dividend payout has garnered attention from both its shareholders and market experts alike as to whether this will signal a trend going forward or only serve as short-term positive returns for investors relying solely on dividends to achieve gains in their portfolios – Only time can tell!
Institutional Investors Eye Crane: Fluctuations and Growth in Ownership
The stock market continues to be a topic of interest for investors, with many keeping an eye on the latest reports from various companies. One such company is Crane, a conglomerate that has seen some fluctuations in its position and ownership. Over the last few quarters, we have seen the growth of several institutional investors in Crane’s stock, which has had some bearing on its share prices.
According to recent reports, Louisiana State Employees Retirement System grew its position in Crane by 0.8% during Q4 and now owns 12,800 shares worth $1,286,000. Similarly, Oregon Public Employees Retirement Fund picked up 108 additional shares during the same period, bringing their total holdings up to 14,050 worth $1,411,000. Janney Montgomery Scott LLC and Legacy Financial Advisors Inc. have also grown their positions by purchasing more shares recently.
However, it is Lazard Asset Management LLC that has shown the biggest increase in Crane’s ownership amongst institutional investors lately. In Q1 alone they grew their position by a significant 14.1%, adding an additional 133 shares worth $116,000 to their existing investment.
Despite these changes in ownership positions though it is important to bear in mind that 70.83% of CR stock is currently owned by institutional investors and hedge funds – highlighting just how important these players can be when looking at stock performance.
It is also interesting to note that several analysts have issued reports on this company over recent weeks including DA Davidson who raised their price target on CR from $90 to $92—a slight increase over previous estimates—and StockNews.com who gave a “buy” rating on May 21st.
But it should be noted that UBS Group downgraded CR from a target price of $120 down to $82—a possible reflection of growing concerns within certain corners of Wall Street about Crane’s ability to maintain its high market capitalization. As of May 26th, Crane was trading at $75.62 with a 12-month high of $83 and low of $67.28.
All in all, the investment landscape can be quite volatile, with institutional investor actions and analyst opinions often having a significant impact on stock prices. While Crane remains an attractive buy for some analysts, investors should bear in mind that actual stock prices can fluctuate wildly due to many different factors – making it crucial to keep updated on latest developments and insights before investing their hard earned money.
Discussion about this post