Trexquant Investment LP Sells 54,978 Shares of Carpenter Technology Co. (NYSE:CRS)

Trexquant Investment LP decreased its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 59.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,750 shares of the basic materials company's stock after selling 54,978 shares during the period. Trexquant Investment LP owned approximately 0.07% of Carpenter Technology worth $6,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Carpenter Technology by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company's stock worth $193,279,000 after acquiring an additional 38,411 shares during the period. Norges Bank bought a new stake in shares of Carpenter Technology during the fourth quarter valued at approximately $100,505,000. Allspring Global Investments Holdings LLC increased its position in shares of Carpenter Technology by 428.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company's stock valued at $103,714,000 after purchasing an additional 479,985 shares during the period. American Century Companies Inc. lifted its holdings in shares of Carpenter Technology by 7.6% during the fourth quarter. American Century Companies Inc. now owns 517,142 shares of the basic materials company's stock valued at $87,765,000 after purchasing an additional 36,606 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Carpenter Technology by 7.1% in the fourth quarter. Fisher Asset Management LLC now owns 390,229 shares of the basic materials company's stock worth $66,226,000 after purchasing an additional 25,917 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

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

Carpenter Technology Stock Performance

Shares of NYSE CRS traded down $8.97 during midday trading on Thursday, hitting $166.06. The company's stock had a trading volume of 261,204 shares, compared to its average volume of 732,101. The stock has a fifty day moving average price of $186.39 and a 200 day moving average price of $180.22. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 31.29, a P/E/G ratio of 0.93 and a beta of 1.28. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a one year low of $74.21 and a one year high of $213.66.

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

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Carpenter Technology's dividend payout ratio (DPR) is 15.09%.

About Carpenter Technology

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.