Carpenter Technology (NYSE:CRS) Trading Down 7.2% – Time to Sell?

Shares of Carpenter Technology Co. (NYSE:CRS) traded down 7.2% during mid-day trading on Friday . The company traded as low as $178.00 and last traded at $172.77. 224,437 shares changed hands during trading, a decline of 65% from the average session volume of 647,898 shares. The stock had previously closed at $186.08.

Wall Street Analysts Forecast Growth

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

Carpenter Technology Stock Down 2.6 %

The company has a market cap of $9.05 billion, a P/E ratio of 33.99, a PEG ratio of 0.93 and a beta of 1.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The business’s 50 day moving average price is $193.95 and its 200-day moving average price is $173.89.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating 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%. On average, analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is 15.09%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRS. Tidal Investments LLC increased its stake in shares of Carpenter Technology by 91.9% in 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 last quarter. Fisher Asset Management LLC raised its holdings in Carpenter Technology by 3.9% in the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after purchasing an additional 13,815 shares during the period. Forest Avenue Capital Management LP bought a new position in shares of Carpenter Technology during the third quarter worth $25,262,000. Natixis Advisors LLC grew its holdings in shares of Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock valued at $3,801,000 after buying an additional 1,343 shares during the period. Finally, Manuka Financial LLC bought a new stake in shares of Carpenter Technology in the 4th quarter valued at $368,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

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.