Victory Capital Management Inc. Sells 7,098 Shares of Carpenter Technology Co. (NYSE:CRS)

Victory Capital Management Inc. reduced its holdings in Carpenter Technology Co. (NYSE:CRS) by 30.8% during the fourth quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its stake in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after acquiring an additional 1,108,963 shares during the last quarter. Geode Capital Management LLC increased its stake in Carpenter Technology by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after acquiring an additional 17,497 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Carpenter Technology by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after acquiring an additional 103,559 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after acquiring an additional 479,985 shares during the last quarter. Finally, Avala Global LP increased its stake in Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after acquiring an additional 73,400 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

CRS opened at $183.76 on Monday. The stock has a market capitalization of $9.18 billion, a P/E ratio of 34.67, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 12-month low of $65.26 and a 12-month high of $213.66. The stock has a 50-day moving average price of $194.79 and a 200-day moving average price of $175.83. 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 (NYSE:CRS) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. Equities analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is currently 15.09%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRS. BTIG Research set a $230.00 price objective on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective 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 assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

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.