Carpenter Technology (NYSE:CRS) Shares Gap Down – Should You Sell?

Carpenter Technology Co. (NYSE:CRS)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $209.11, but opened at $195.00. Carpenter Technology shares last traded at $197.54, with a volume of 120,804 shares traded.

Analyst Upgrades and Downgrades

CRS has been the subject of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.50.

Carpenter Technology Price Performance

The company has a market cap of $9.63 billion, a PE ratio of 43.01, a P/E/G ratio of 0.99 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The company has a 50-day moving average price of $187.81 and a two-hundred day moving average price of $163.65.

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 analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. Sell-side analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Kestra Investment Management LLC acquired a new position in shares of Carpenter Technology during the fourth quarter worth approximately $25,000. UMB Bank n.a. lifted its position in shares of 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 acquiring an additional 191 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Carpenter Technology during the third quarter worth $64,000. Banque Cantonale Vaudoise purchased a new position in Carpenter Technology in the 3rd quarter worth about $65,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Carpenter Technology during the third quarter valued at about $80,000. 92.03% of the stock is currently owned by institutional investors.

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.