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

XTX Topco Ltd lowered its holdings in Carpenter Technology Co. (NYSE:CRS) by 42.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,355 shares of the basic materials company’s stock after selling 1,725 shares during the period. XTX Topco Ltd’s holdings in Carpenter Technology were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRS. FMR LLC grew its position in Carpenter Technology by 47.1% in the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after buying an additional 1,108,963 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Carpenter Technology by 129.5% in the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after acquiring an additional 479,047 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after purchasing an additional 103,559 shares during the period. Wolf Hill Capital Management LP purchased a new stake in shares of Carpenter Technology during the second quarter valued at $73,850,000. Finally, Avala Global LP boosted its position in shares of Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock valued at $67,614,000 after purchasing an additional 73,400 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

Shares of CRS opened at $175.57 on Tuesday. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $198.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The company has a market capitalization of $8.75 billion, a PE ratio of 39.10, a PEG ratio of 0.90 and a beta of 1.52. The company’s 50 day moving average price is $173.49 and its 200 day moving average price is $144.82.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $742.96 million. During the same period in the prior year, the business posted $0.88 earnings per share. Carpenter Technology’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts expect that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRS shares. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

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.