Truist Financial Corp Sells 1,614 Shares of Carpenter Technology Co. (NYSE:CRS)

Truist Financial Corp lowered its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 35.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,954 shares of the basic materials company’s stock after selling 1,614 shares during the period. Truist Financial Corp’s holdings in Carpenter Technology were worth $501,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC lifted its stake in Carpenter Technology by 91.9% during the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock valued at $3,364,000 after acquiring an additional 10,094 shares during the period. Fisher Asset Management LLC lifted its stake in Carpenter Technology by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock valued at $58,137,000 after acquiring an additional 13,815 shares during the period. Forest Avenue Capital Management LP purchased a new stake in shares of Carpenter Technology during the 3rd quarter valued at about $25,262,000. Natixis Advisors LLC increased its position in shares of Carpenter Technology by 6.0% during the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock valued at $3,801,000 after purchasing an additional 1,343 shares during the last quarter. Finally, Manuka Financial LLC purchased a new stake in shares of Carpenter Technology during the 4th quarter valued at about $368,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Down 0.3 %

Carpenter Technology stock opened at $206.51 on Tuesday. The firm has a 50 day moving average of $191.91 and a 200 day moving average of $172.75. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 38.96, a P/E/G ratio of 0.93 and a beta of 1.54. Carpenter Technology Co. has a 12-month low of $62.99 and a 12-month high of $213.66. 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 posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping 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%. As a group, research analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.39%. Carpenter Technology’s payout ratio is 15.09%.

Analyst Upgrades and Downgrades

CRS has been the subject of several research reports. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.17.

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.