Carpenter Technology Co. (NYSE:CRS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 30.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,970 shares of the basic materials company's stock after selling 7,098 shares during the quarter. Victory Capital Management Inc.'s holdings in Carpenter Technology were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CRS. Kestra Investment Management LLC bought a new position in shares of Carpenter Technology in the 4th quarter valued at about $25,000. UMB Bank n.a. raised its position in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after purchasing an additional 191 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Carpenter Technology in the 3rd quarter valued at approximately $65,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $80,000. Finally, Morse Asset Management Inc bought a new position in shares of Carpenter Technology during the 3rd quarter valued at approximately $84,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Remove Ads

Carpenter Technology Stock Down 2.3 %

Shares of CRS traded down $4.41 during mid-day trading on Thursday, hitting $186.20. The company's stock had a trading volume of 375,057 shares, compared to its average volume of 664,657. The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 0.93 and a beta of 1.55. The company's 50-day moving average is $194.95 and its 200-day moving average is $176.49. 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 52-week low of $67.24 and a 52-week 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 (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%. On average, equities research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders 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 annualized dividend and a yield of 0.43%. Carpenter Technology's dividend payout ratio (DPR) is presently 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.