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

Trexquant Investment LP lowered its stake in Carpenter Technology Co. (NYSE:CRS) by 59.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,750 shares of the basic materials company’s stock after selling 54,978 shares during the quarter. Trexquant Investment LP owned about 0.07% of Carpenter Technology worth $6,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRS. Norges Bank purchased a new stake in shares of Carpenter Technology in the fourth quarter worth about $100,505,000. 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. JPMorgan Chase & Co. raised its holdings in shares of Carpenter Technology by 120.4% during the 4th quarter. JPMorgan Chase & Co. now owns 331,874 shares of the basic materials company’s stock worth $56,322,000 after acquiring an additional 181,317 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Carpenter Technology during the 4th quarter valued at approximately $18,731,000. Finally, Wellington Management Group LLP grew its holdings in shares of Carpenter Technology by 64.8% in the fourth quarter. Wellington Management Group LLP now owns 249,095 shares of the basic materials company’s stock valued at $42,274,000 after purchasing an additional 97,978 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CRS. 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 report on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.17.

Carpenter Technology Trading Down 9.4 %

Shares of CRS opened at $150.90 on Friday. The company’s fifty day simple moving average is $190.40 and its 200-day simple moving average is $179.94. The company has a market cap of $7.54 billion, a P/E ratio of 28.47, a P/E/G ratio of 0.93 and a beta of 1.28. 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 Co. has a twelve month low of $74.21 and a twelve month high of $213.66.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data 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 net margin of 9.34% and a return on equity of 19.88%. As a group, analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Tuesday, January 28th. 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.