Carpenter Technology Co. (NYSE:CRS) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,149 shares of the basic materials company's stock after selling 1,644 shares during the period. PNC Financial Services Group Inc.'s holdings in Carpenter Technology were worth $1,213,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CRS. Kestra Investment Management LLC purchased a new position in shares of Carpenter Technology in the 4th quarter valued at $25,000. UMB Bank n.a. raised its stake in shares of Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 191 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of Carpenter Technology in the 3rd quarter valued at $65,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Carpenter Technology in the 3rd quarter valued at $80,000. Finally, Morse Asset Management Inc purchased a new position in shares of Carpenter Technology in the 3rd quarter valued at $84,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRS shares. JPMorgan Chase & Co. raised their target price 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. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, Carpenter Technology has a consensus rating of "Moderate Buy" and a consensus price target of $167.17.

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Carpenter Technology Stock Down 2.3 %

CRS traded down $4.41 during trading hours on Thursday, reaching $186.20. 555,115 shares of the stock traded hands, compared to its average volume of 665,111. The firm's fifty day simple moving average is $194.95 and its two-hundred day simple moving average is $176.49. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a fifty-two week low of $67.24 and a fifty-two week high of $213.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92.

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

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology's dividend payout ratio is currently 15.09%.

Carpenter Technology Company 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.