Sequoia Financial Advisors LLC Decreases Stake in Carpenter Technology Co. (NYSE:CRS)

Sequoia Financial Advisors LLC reduced its stake in Carpenter Technology Co. (NYSE:CRS) by 16.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,922 shares of the basic materials company’s stock after selling 371 shares during the period. Sequoia Financial Advisors LLC’s holdings in Carpenter Technology were worth $326,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in Carpenter Technology in the 4th quarter worth approximately $25,000. UMB Bank n.a. grew its position in shares of Carpenter Technology by 169.0% in 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 in the 3rd quarter worth approximately $65,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Carpenter Technology in the 3rd quarter worth approximately $80,000. Finally, Morse Asset Management Inc bought a new stake in shares of Carpenter Technology in the 3rd quarter worth approximately $84,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CRS shares. JPMorgan Chase & Co. lifted 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. BTIG Research set a $230.00 price objective on Carpenter Technology in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Carpenter Technology presently has an average rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Trading Up 5.2 %

NYSE CRS opened at $190.93 on Thursday. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a twelve month low of $67.24 and a twelve month high of $213.66. The firm has a market capitalization of $9.54 billion, a PE ratio of 36.02, a P/E/G ratio of 0.93 and a beta of 1.55. The stock’s 50 day moving average is $194.95 and its 200 day moving average is $176.49.

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

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

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.