Stephens Inc. AR Cuts Position in Carpenter Technology Co. (NYSE:CRS)

Stephens Inc. AR lessened its holdings in Carpenter Technology Co. (NYSE:CRS) by 10.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,796 shares of the basic materials company’s stock after selling 435 shares during the quarter. Stephens Inc. AR’s holdings in Carpenter Technology were worth $606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC grew its holdings in 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 worth $10,667,000 after purchasing an additional 17,400 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Carpenter Technology in the 1st quarter valued at approximately $4,199,000. Comerica Bank lifted its position in Carpenter Technology by 170.3% in the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock valued at $4,812,000 after acquiring an additional 42,449 shares in the last quarter. Seven Eight Capital LP bought a new position in Carpenter Technology in the 1st quarter valued at approximately $1,347,000. Finally, Moody National Bank Trust Division bought a new position in Carpenter Technology in the 2nd quarter valued at approximately $1,208,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CRS. BTIG Research upped their price objective on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Benchmark reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.60.

Carpenter Technology Price Performance

Shares of CRS opened at $178.09 on Thursday. The firm has a market cap of $8.88 billion, a PE ratio of 39.66, a P/E/G ratio of 0.78 and a beta of 1.46. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $153.08 and a two-hundred day simple moving average of $128.14. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $179.11.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. On average, equities analysts anticipate that Carpenter Technology Co. will post 6.68 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

Carpenter Technology Company 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.