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

Victory Capital Management Inc. lessened its stake in Carpenter Technology Co. (NYSE:CRS) by 30.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

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

Carpenter Technology Stock Performance

NYSE:CRS opened at $183.76 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a 52-week low of $65.26 and a 52-week high of $213.66. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 0.93 and a beta of 1.55. The business’s fifty day moving average is $194.79 and its 200 day moving average is $175.83.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict 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 was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a dividend of $0.20 per share. 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 0.44%. Carpenter Technology’s payout ratio is 15.09%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CRS shares. JPMorgan Chase & Co. raised their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 target price on Carpenter Technology in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock 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.