Carpenter Technology Co. (NYSE:CRS) Shares Sold by Covestor Ltd

Covestor Ltd lessened its holdings in Carpenter Technology Co. (NYSE:CRS) by 22.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 803 shares of the basic materials company’s stock after selling 228 shares during the period. Covestor Ltd’s holdings in Carpenter Technology were worth $137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRS. Kestra Investment Management LLC acquired a new stake in shares of Carpenter Technology in the fourth quarter valued at $25,000. CIBC Private Wealth Group LLC raised its position in Carpenter Technology by 109.5% in the 4th 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. UMB Bank n.a. grew its holdings in shares of Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Carpenter Technology in the 3rd quarter valued at approximately $80,000. Finally, Morse Asset Management Inc purchased a new position in Carpenter Technology during the 3rd quarter worth $84,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $170.72 on Friday. Carpenter Technology Co. has a twelve month low of $74.21 and a twelve 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 50-day moving average of $185.49 and a two-hundred day moving average of $180.34. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.66 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%. As a group, analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Carpenter Technology’s dividend payout ratio (DPR) is 15.09%.

Wall Street Analysts Forecast Growth

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

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.