Royce & Associates LP Reduces Holdings in Carpenter Technology Co. (NYSE:CRS)

Royce & Associates LP cut its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 24.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 79,820 shares of the basic materials company’s stock after selling 25,530 shares during the quarter. Royce & Associates LP’s holdings in Carpenter Technology were worth $13,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Catalyst Funds Management Pty Ltd boosted its holdings in Carpenter Technology by 200.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 3,600 shares of the basic materials company’s stock worth $611,000 after buying an additional 2,400 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Carpenter Technology by 1.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,880 shares of the basic materials company’s stock worth $1,846,000 after acquiring an additional 160 shares during the period. Swiss National Bank grew its position in shares of Carpenter Technology by 1.5% in the fourth quarter. Swiss National Bank now owns 93,400 shares of the basic materials company’s stock valued at $15,851,000 after purchasing an additional 1,400 shares in the last quarter. Securian Asset Management Inc. bought a new stake in shares of Carpenter Technology during the 4th quarter valued at $639,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Carpenter Technology by 11.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

CRS has been the topic of several analyst reports. BTIG Research set a $230.00 price target on Carpenter Technology in a research report 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 report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Stock Up 0.5 %

CRS stock opened at $184.42 on Tuesday. 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 1-year low of $65.26 and a 1-year high of $213.66. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The company’s 50 day moving average is $194.79 and its 200 day moving average is $176.13.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 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.