Private Advisor Group LLC Sells 338 Shares of Carpenter Technology Co. (NYSE:CRS)

Private Advisor Group LLC trimmed its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 6.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,962 shares of the basic materials company’s stock after selling 338 shares during the quarter. Private Advisor Group LLC’s holdings in Carpenter Technology were worth $842,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Kestra Investment Management LLC bought a new stake in shares of Carpenter Technology during the 4th quarter worth $25,000. UMB Bank n.a. lifted its position in shares of Carpenter Technology by 169.0% during the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Carpenter Technology during the 3rd quarter worth $65,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Carpenter Technology during the 3rd quarter worth $80,000. Finally, Morse Asset Management Inc bought a new stake in shares of Carpenter Technology during the 3rd quarter worth $84,000. 92.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BTIG Research set a $230.00 price objective on Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Price Performance

Shares of CRS opened at $207.25 on Friday. Carpenter Technology Co. has a 12-month low of $62.99 and a 12-month high of $213.65. The business has a 50-day simple moving average of $191.91 and a two-hundred day simple moving average of $172.55. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The stock has a market cap of $10.35 billion, a PE ratio of 39.10, a PEG ratio of 0.93 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.39%. Carpenter Technology’s payout ratio is 15.09%.

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.