Carpenter Technology Co. (NYSE:CRS) Position Reduced by Farther Finance Advisors LLC

Farther Finance Advisors LLC decreased its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 44.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,879 shares of the basic materials company’s stock after selling 1,526 shares during the period. Farther Finance Advisors LLC’s holdings in Carpenter Technology were worth $300,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CRS. CWM LLC lifted its position in Carpenter Technology by 12.6% in the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 103 shares during the period. GAMMA Investing LLC grew its holdings in shares of Carpenter Technology by 9.2% during the second quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 136 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after buying an additional 178 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of Carpenter Technology by 8.9% in the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company’s stock valued at $353,000 after buying an additional 180 shares during the last quarter. Finally, Private Advisor Group LLC lifted its position in Carpenter Technology by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company’s stock worth $846,000 after buying an additional 196 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $177.10 on Friday. The company has a market cap of $8.83 billion, a PE ratio of 39.44, a PEG 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. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $179.18. The company’s 50-day moving average is $154.37 and its two-hundred day moving average is $129.15.

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

Carpenter Technology Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.