Trexquant Investment LP Sells 54,978 Shares of Carpenter Technology Co. (NYSE:CRS)

Trexquant Investment LP reduced its stake in Carpenter Technology Co. (NYSE:CRS) by 59.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 36,750 shares of the basic materials company’s stock after selling 54,978 shares during the quarter. Trexquant Investment LP’s holdings in Carpenter Technology were worth $6,237,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Kestra Investment Management LLC bought a new position in Carpenter Technology in the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Carpenter Technology by 109.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after buying an additional 127 shares during the period. UMB Bank n.a. grew its position in shares of Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Carpenter Technology during the third quarter valued at $80,000. Finally, Morse Asset Management Inc purchased a new stake in Carpenter Technology in the third quarter worth about $84,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $150.90 on Friday. Carpenter Technology Co. has a one year low of $74.21 and a one year high of $213.66. The company has a market capitalization of $7.54 billion, a PE ratio of 28.47, a P/E/G ratio of 0.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The company has a 50-day simple moving average of $190.40 and a two-hundred day simple moving average of $179.94.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. Research analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. Carpenter Technology’s dividend payout ratio is presently 15.09%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. increased 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. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.