Carpenter Technology (NYSE:CRS) Stock Price Down 7.2% – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CRS shares. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target 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. 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, Carpenter Technology presently has a consensus rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Stock Down 3.1 %

The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 0.93 and a beta of 1.55. The firm’s fifty day moving average is $194.14 and its 200-day moving average is $174.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results 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 net margin of 9.34% and a return on equity of 19.88%. On average, sell-side analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

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

Institutional Trading of Carpenter Technology

Institutional investors have recently added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new stake in Carpenter Technology during the fourth quarter valued at $25,000. CIBC Private Wealth Group LLC increased its stake in Carpenter Technology by 109.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 127 shares during the last quarter. Ameriflex Group Inc. bought a new stake in Carpenter Technology during the fourth quarter valued at $44,000. UMB Bank n.a. increased its stake in Carpenter Technology by 169.0% during the fourth 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. Finally, Banque Cantonale Vaudoise bought a new stake in Carpenter Technology during the third quarter valued at $65,000. Institutional investors own 92.03% of the company’s stock.

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.