Great Valley Advisor Group Inc. Sells 1,000 Shares of Carpenter Technology Co. (NYSE:CRS)

Great Valley Advisor Group Inc. trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 42.2% during the third quarter, HoldingsChannel reports. The fund owned 1,368 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Carpenter Technology were worth $218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRS. Strengthening Families & Communities LLC raised its holdings in Carpenter Technology by 0.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock worth $2,763,000 after purchasing an additional 100 shares during the last quarter. CWM LLC raised its stake in Carpenter Technology by 12.6% during the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock worth $101,000 after buying an additional 103 shares during the last quarter. GAMMA Investing LLC boosted its position in Carpenter Technology by 9.2% during the second quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $177,000 after acquiring an additional 136 shares during the last quarter. KBC Group NV boosted its position in Carpenter Technology by 13.5% during the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after acquiring an additional 161 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 178 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CRS shares. Benchmark restated a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. began coverage on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology Trading Down 0.9 %

NYSE CRS opened at $194.46 on Friday. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $198.24. The business has a 50 day moving average price of $165.95 and a 200-day moving average price of $137.50. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 43.31, a P/E/G ratio of 0.99 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $742.96 million. During the same quarter in the previous year, the business posted $0.88 EPS. Carpenter Technology’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts expect that Carpenter Technology Co. will post 6.61 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, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is currently 17.82%.

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.