Carpenter Technology Co. (NYSE:CRS) Shares Sold by Versant Capital Management Inc

Versant Capital Management Inc cut its stake in Carpenter Technology Co. (NYSE:CRS) by 24.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 282 shares of the basic materials company’s stock after selling 92 shares during the period. Versant Capital Management Inc’s holdings in Carpenter Technology were worth $48,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after buying an additional 1,108,963 shares during the period. Geode Capital Management LLC lifted its stake in Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after acquiring an additional 17,497 shares during the last quarter. American Century Companies Inc. lifted its stake in Carpenter Technology by 129.5% in the second 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. grew its holdings in Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after acquiring an additional 103,559 shares in the last quarter. Finally, Wolf Hill Capital Management LP purchased a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $73,850,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRS has been the subject of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective for the company. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $153.00.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $184.57 on Tuesday. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $198.24. The firm has a market capitalization of $9.20 billion, a P/E ratio of 41.11, a P/E/G ratio of 0.90 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The company’s fifty day moving average price is $177.60 and its 200 day moving average price is $152.10.

Carpenter Technology (NYSE:CRS) last posted its earnings results 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. The business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. As a group, sell-side analysts predict that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

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.