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Here's Why You Should Hold Crane Holdings (CR) Stock for Now
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Crane Holdings Co. (CR - Free Report) is backed by multiple tailwinds despite inflationary pressures, forex woes and supply-chain disturbances. The company’s improving order trends, investment in technology, efforts to develop products and focus on commercial excellence are poised to boost its performance in the quarters ahead.
Strength across its high-efficiency motors, non-clog pump and municipal wastewater applications product portfolio is driving the Process Flow Technologies segment. The Aerospace & Electronics segment’s performance is being aided by robust commercial aerospace and commercial aftermarket businesses. Growth in transportation and building product revenues is supporting the Engineered Materials segment.
Crane Holdings was divested from Redco Corporation in August 2022. This divestment allows CR to focus more on its core business areas. Also, by removing all asbestos-related liabilities and obligations from CR’s balance sheet, the transaction will increase its annual free cash flow, aiding in long-term value creation for its stakeholders.
The company’s measures to reward its shareholders through dividend payments and share buybacks are noteworthy. In 2022, Crane Holdings paid out dividends worth $105.9 million and repurchased shares of $203.7 million. The board also announced a 9% hike in its quarterly dividend rate in January 2022.
In light of the above-mentioned positives, we believe, investors should retain Crane Holdings’ stock for now, as suggested by its current Zacks Rank #3 (Hold). In the past six months, the stock has rallied 13.2% compared with the industry’s 11% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
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Here's Why You Should Hold Crane Holdings (CR) Stock for Now
Crane Holdings Co. (CR - Free Report) is backed by multiple tailwinds despite inflationary pressures, forex woes and supply-chain disturbances. The company’s improving order trends, investment in technology, efforts to develop products and focus on commercial excellence are poised to boost its performance in the quarters ahead.
Strength across its high-efficiency motors, non-clog pump and municipal wastewater applications product portfolio is driving the Process Flow Technologies segment. The Aerospace & Electronics segment’s performance is being aided by robust commercial aerospace and commercial aftermarket businesses. Growth in transportation and building product revenues is supporting the Engineered Materials segment.
Crane Holdings was divested from Redco Corporation in August 2022. This divestment allows CR to focus more on its core business areas. Also, by removing all asbestos-related liabilities and obligations from CR’s balance sheet, the transaction will increase its annual free cash flow, aiding in long-term value creation for its stakeholders.
The company’s measures to reward its shareholders through dividend payments and share buybacks are noteworthy. In 2022, Crane Holdings paid out dividends worth $105.9 million and repurchased shares of $203.7 million. The board also announced a 9% hike in its quarterly dividend rate in January 2022.
In light of the above-mentioned positives, we believe, investors should retain Crane Holdings’ stock for now, as suggested by its current Zacks Rank #3 (Hold). In the past six months, the stock has rallied 13.2% compared with the industry’s 11% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked companies from the Industrial Products sector are discussed below:
Allegion plc (ALLE - Free Report) presently carries a Zacks Rank #2 (Buy). ALLE’s earnings surprise in the last four quarters was 8.8%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks.
In the past 60 days, Allegion’s earnings estimates have been unchanged for 2022. The stock has gained 8.9% in the past six months.
A. O. Smith Corporation (AOS - Free Report) presently has a Zacks Rank of 2 and a trailing four-quarter earnings surprise of 3.2%, on average.
AOS’ earnings estimates have increased 4.1% for 2023 in the past 60 days. Shares of A. O. Smith have risen 5.7% in the past six months.
Valmont Industries, Inc. (VMI - Free Report) presently has a Zacks Rank of 2. VMI’s earnings surprise in the last four quarters was 12.5%, on average.
In the past 60 days, Valmont’s earnings estimates have increased by a penny. The stock has rallied 12.9% in the past six months.