Sei Investments Co. Lowers Holdings in Carpenter Technology Co. (NYSE:CRS)

Sei Investments Co. reduced its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 19.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,327 shares of the basic materials company’s stock after selling 14,039 shares during the quarter. Sei Investments Co.’s holdings in Carpenter Technology were worth $6,501,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Carpenter Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock worth $406,096,000 after acquiring an additional 15,564 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Carpenter Technology by 82.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after purchasing an additional 438,781 shares in the last quarter. American Century Companies Inc. raised its holdings in 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 purchasing an additional 479,047 shares during the period. Hawk Ridge Capital Management LP boosted its position in Carpenter Technology by 199.1% during the fourth quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock worth $48,741,000 after purchasing an additional 458,227 shares in the last quarter. Finally, Bayberry Capital Partners LP acquired a new stake in Carpenter Technology in the first quarter valued at approximately $35,887,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $159.75 on Tuesday. The company has a fifty day simple moving average of $142.61 and a 200-day simple moving average of $112.23. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 60.74, a PEG ratio of 0.89 and a beta of 1.45. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $166.51.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.31. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The company had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. During the same quarter in the prior year, the company earned $0.78 EPS. Carpenter Technology’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Carpenter Technology Co. will post 6.09 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Carpenter Technology’s dividend payout ratio is presently 30.42%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRS. Deutsche Bank Aktiengesellschaft started coverage on Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price objective for the company. BTIG Research increased their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. TD Cowen boosted their target price on shares of Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Northcoast Research restated a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a research report on Friday, June 14th. Finally, Benchmark lifted their price objective on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and a consensus price target of $139.60.

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.