Prudential Financial Inc. Sells 122,520 Shares of Carpenter Technology Co. (NYSE:CRS)

Prudential Financial Inc. lessened its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 75.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,195 shares of the basic materials company’s stock after selling 122,520 shares during the quarter. Prudential Financial Inc. owned 0.08% of Carpenter Technology worth $6,821,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new position in shares of Carpenter Technology during the fourth quarter valued at about $25,000. UMB Bank n.a. boosted its stake in Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Carpenter Technology during the 3rd quarter worth approximately $80,000. Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology in the third quarter worth approximately $84,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $181.32 on Monday. The firm has a market capitalization of $9.06 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $194.01 and its 200 day simple moving average is $179.34. Carpenter Technology Co. has a 12 month low of $70.20 and a 12 month high of $213.66.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results 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 anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is currently 15.09%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRS shares. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.17.

About Carpenter Technology

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.