Strengthening Families & Communities LLC Reduces Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Strengthening Families & Communities LLC reduced its position in Carpenter Technology Co. (NYSE:CRS) by 83.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,830 shares of the basic materials company’s stock after selling 14,484 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Carpenter Technology were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CRS. UMB Bank n.a. increased its holdings 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 worth $52,000 after acquiring an additional 191 shares during the period. nVerses Capital LLC purchased a new position in Carpenter Technology in the 3rd quarter worth approximately $64,000. Banque Cantonale Vaudoise purchased a new position in shares of Carpenter Technology in the third quarter worth $65,000. Wilmington Savings Fund Society FSB bought a new stake in Carpenter Technology during the 3rd quarter valued at $80,000. Finally, Morse Asset Management Inc purchased a new stake in Carpenter Technology during the 3rd quarter valued at $84,000. 92.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on CRS. JPMorgan Chase & Co. boosted their price objective on shares of Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Benchmark restated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.50.

Carpenter Technology Trading Up 1.4 %

NYSE:CRS opened at $190.50 on Tuesday. The company has a 50-day moving average price of $187.31 and a 200-day moving average price of $167.11. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 35.94, a P/E/G ratio of 0.88 and a beta of 1.54. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 12 month low of $60.65 and a 12 month high of $213.65.

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

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Carpenter Technology’s dividend payout ratio (DPR) 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.