Carpenter Technology Co. (NYSE:CRS) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 12.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 39,913 shares of the basic materials company’s stock after selling 5,803 shares during the period. Russell Investments Group Ltd.’s holdings in Carpenter Technology were worth $6,774,000 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. Kestra Investment Management LLC acquired a new stake in Carpenter Technology in the fourth quarter valued at about $25,000. CIBC Private Wealth Group LLC raised its position in 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 acquiring an additional 127 shares in the last quarter. UMB Bank n.a. raised its position in 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 acquiring an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Carpenter Technology in the third quarter valued at $80,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth $84,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective 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. Northcoast Research raised Carpenter Technology from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 9th. Finally, BTIG Research set a $230.00 price objective on Carpenter Technology in a report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Stock Performance

NYSE:CRS opened at $170.72 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The firm has a market cap of $8.53 billion, a PE ratio of 32.21, a P/E/G ratio of 0.93 and a beta of 1.28. The firm has a 50 day simple moving average of $185.49 and a 200-day simple moving average of $180.51. Carpenter Technology Co. has a 1-year low of $74.21 and a 1-year high of $213.66.

Carpenter Technology (NYSE:CRS) last issued its quarterly 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, equities analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

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 paid 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 of this dividend is Tuesday, April 22nd. Carpenter Technology’s dividend payout ratio is currently 15.09%.

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.