Cambridge Investment Research Advisors Inc. Sells 608 Shares of Carpenter Technology Co. (NYSE:CRS)

Cambridge Investment Research Advisors Inc. lowered its stake in Carpenter Technology Co. (NYSE:CRS) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,330 shares of the basic materials company’s stock after selling 608 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Carpenter Technology were worth $1,132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRS. Janney Montgomery Scott LLC lifted its position in shares of Carpenter Technology by 91.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 25,408 shares of the basic materials company’s stock worth $1,799,000 after buying an additional 12,129 shares in the last quarter. Harvest Investment Services LLC bought a new position in shares of Carpenter Technology during the 4th quarter valued at approximately $826,000. First Eagle Investment Management LLC grew its holdings in shares of Carpenter Technology by 13.2% in the first quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock valued at $10,667,000 after purchasing an additional 17,400 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Carpenter Technology in the first quarter worth $4,199,000. Finally, Comerica Bank increased its holdings in shares of Carpenter Technology by 170.3% in the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock worth $4,812,000 after buying an additional 42,449 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Up 0.1 %

CRS stock opened at $135.87 on Friday. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $148.94. The firm’s 50-day moving average is $130.18 and its 200 day moving average is $101.80. The company has a market capitalization of $6.74 billion, a PE ratio of 51.66, a P/E/G ratio of 0.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The business had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. During the same period last year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Carpenter Technology Co. will post 6.06 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio (DPR) is presently 30.42%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CRS shares. Benchmark lifted their target price on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 26th. TD Cowen lifted their price target on shares of Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price objective on the stock. Northcoast Research restated a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a research report on Friday, June 14th. Finally, BTIG Research increased their price target on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.60.

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.