WALTHAM, Mass. - Crane NXT, Co. (NYSE: CXT), an industrial technology leader, announced today the appointment of Sandra Joyce as a Director. With over twenty years of cybersecurity and national security experience, Joyce's expertise is expected to bolster Crane NXT's board as the company pursues its growth strategy.
Joyce currently serves as Vice President at Google (NASDAQ:GOOGL) Cloud and Head of Mandiant Intelligence, a role she assumed following Google's acquisition of Mandiant in 2022. Her career includes substantial leadership positions at Mandiant since 2015 and prior work at Battelle Memorial Institute from 2003 to 2015, where she collaborated with global government agencies.
In addition to her corporate roles, Joyce is an active Lieutenant Colonel in the U.S. Air Force Reserves and holds board and council positions at the National Intelligence University, Silverado Policy Accelerator Strategic Council, Aspen Institute Cyber Working Group, and the Institute of Science & Technology Ransomware Task Force.
The announcement also confirms the departure of Max H. Mitchell from the board, effective May 23, 2024. Mitchell's transitional role followed Crane NXT's spinoff from Crane Company (NYSE:CR), and his contributions have been recognized as instrumental in establishing Crane NXT as an independent public entity.
John S. Stroup, Chairman of the Crane NXT Board, expressed confidence in Joyce's addition to the board, citing her extensive background in cybersecurity and her experience with governmental entities as valuable assets for the company's future.
Crane NXT, with a workforce of approximately 4,000 employees, operates globally with facilities in the United States, the United Kingdom, Mexico, Japan, Germany, Sweden, and Malta. The company specializes in advanced micro-optics technology for product security and provides electronic equipment and software for detection and sensing applications.
InvestingPro Insights
As Crane NXT, Co. (NYSE: CXT) welcomes Sandra Joyce to its board and continues to navigate its post-spinoff landscape, investors may be interested in the company's recent financial performance and market standing. According to InvestingPro data, Crane NXT has a market capitalization of approximately $3.47 billion, showcasing its significant presence in the industrial technology sector.
The company's P/E ratio stands at 18.54, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at 17.98. This valuation indicates a relatively reasonable price investors are currently paying for Crane NXT's earnings, compared to the sector average. Additionally, Crane NXT has demonstrated a solid gross profit margin of 47.01% over the same period, reflecting its ability to maintain profitability in its operations.
InvestingPro Tips highlight that Crane NXT has experienced a high return over the last year, with a 58.52% one-year price total return, suggesting robust investor confidence and stock performance. Moreover, the company's stock generally trades with low price volatility, which might appeal to investors seeking stability in their portfolio. For those considering a deeper dive into Crane NXT's financials and future outlook, InvestingPro offers additional tips and insights. There are currently 6 more InvestingPro Tips available for Crane NXT, which can be explored further at https://www.investing.com/pro/CXT.
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