PDT Partners LLC Sells 2,201 Shares of Carpenter Technology Co. (NYSE:CRS)

PDT Partners LLC lessened its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,715 shares of the basic materials company’s stock after selling 2,201 shares during the period. PDT Partners LLC’s holdings in Carpenter Technology were worth $1,649,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Stratos Wealth Partners LTD. grew its stake in Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock valued at $410,000 after acquiring an additional 63 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Carpenter Technology by 11.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 71 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Carpenter Technology by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after buying an additional 78 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 109 shares during the last quarter. Finally, Wesbanco Bank Inc. lifted its stake in Carpenter Technology by 1.2% during the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Down 0.9 %

CRS opened at $197.23 on Wednesday. Carpenter Technology Co. has a 52 week low of $82.46 and a 52 week high of $213.66. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $182.95 and a two-hundred day moving average price of $182.27. The company has a market cap of $9.85 billion, a PE ratio of 37.21, a P/E/G ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.14. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The firm had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $729.67 million. During the same period in the prior year, the company posted $1.19 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Tuesday, April 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology’s dividend payout ratio (DPR) is 11.33%.

Carpenter Technology declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 24th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the basic materials company to purchase up to 4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CRS has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $240.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday. Northcoast Research raised Carpenter Technology from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. Finally, BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research report on Friday, January 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.00.

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.