Carpenter Technology Co. (NYSE:CRS) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 42.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,984 shares of the basic materials company's stock after selling 61,599 shares during the quarter. Legal & General Group Plc owned approximately 0.17% of Carpenter Technology worth $14,423,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CRS. Kestra Investment Management LLC purchased a new stake in shares of Carpenter Technology during the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC lifted its stake in shares of Carpenter Technology by 109.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after buying an additional 127 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after buying an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Carpenter Technology during the 3rd quarter valued at about $80,000. Finally, Morse Asset Management Inc acquired a new stake in Carpenter Technology in the 3rd quarter valued at about $84,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Trading Down 0.3 %

Carpenter Technology stock traded down $0.52 during trading on Monday, hitting $169.69. The company had a trading volume of 187,329 shares, compared to its average volume of 736,529. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company's 50 day simple moving average is $183.77 and its 200-day simple moving average is $181.01. Carpenter Technology Co. has a 1-year low of $75.73 and a 1-year high of $213.66. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio is currently 15.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Northcoast Research raised Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $167.17.

Carpenter Technology Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.