Freestone Capital Holdings buys $21,645,105 stake in Crane Co. (CR)

Crane Co. (CR) : Freestone Capital Holdings scooped up 310,133 additional shares in Crane Co. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 335,531 shares of Crane Co. which is valued at $21,645,105.Crane Co. makes up approximately 2.01% of Freestone Capital Holdings’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in CR in the latest quarter, The investment management firm added 265,637 additional shares and now holds a total of 3,869,873 shares of Crane Co. which is valued at $249,645,507. Crane Co. makes up approx 0.01% of Vanguard Group Inc’s portfolio.Ubs Asset Management Americas Inc boosted its stake in CR in the latest quarter, The investment management firm added 401 additional shares and now holds a total of 44,964 shares of Crane Co. which is valued at $2,928,056.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. Huntington National Bank sold out all of its stake in CR during the most recent quarter. The investment firm sold 199 shares of CR which is valued $12,340.Louisiana State Employees Retirement System reduced its stake in CR by selling 500 shares or 3.65% in the most recent quarter. The Hedge Fund company now holds 13,200 shares of CR which is valued at $818,532. Crane Co. makes up approx 0.04% of Louisiana State Employees Retirement System’s portfolio.

Crane Co. opened for trading at $64.77 and hit $65.28 on the upside on Friday, eventually ending the session at $65.19, with a gain of 0.31% or 0.2 points. The heightened volatility saw the trading volume jump to 1,71,218 shares. Company has a market cap of $3,807 M.

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 Company’s 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.

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