Renaissance Technologies LLC Sells 26,291 Shares of Carpenter Technology Co. (NYSE:CRS)

Renaissance Technologies LLC decreased its position in shares of Carpenter Technology Co. (NYSE:CRS) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,900 shares of the basic materials company’s stock after selling 26,291 shares during the quarter. Renaissance Technologies LLC’s holdings in Carpenter Technology were worth $45,974,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Carpenter Technology by 28.3% in the 4th quarter. FMR LLC now owns 4,444,608 shares of the basic materials company’s stock valued at $754,295,000 after buying an additional 979,313 shares in the last quarter. Invesco Ltd. lifted its stake in Carpenter Technology by 30.3% during the fourth quarter. Invesco Ltd. now owns 1,537,235 shares of the basic materials company’s stock worth $260,884,000 after purchasing an additional 357,417 shares during the last quarter. Geode Capital Management LLC lifted its stake in Carpenter Technology by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 1,138,615 shares of the basic materials company’s stock worth $193,279,000 after purchasing an additional 38,411 shares during the last quarter. Norges Bank acquired a new stake in shares of Carpenter Technology in the 4th quarter valued at $100,505,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of 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 valued at $103,714,000 after purchasing an additional 479,985 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRS. BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price target 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. Finally, Northcoast Research raised shares of Carpenter Technology from a “sell” rating to a “neutral” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $167.52 on Friday. The business’s 50-day moving average price is $185.92 and its 200-day moving average price is $180.28. Carpenter Technology Co. has a 12 month low of $74.21 and a 12 month high of $213.66. 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 firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last posted its earnings results 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%. Equities research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Carpenter Technology’s payout ratio is 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.