Carpenter Technology Co. (NYSE:CRS) Stock Holdings Lessened by Stifel Financial Corp

Stifel Financial Corp lessened its stake in Carpenter Technology Co. (NYSE:CRS) by 20.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,273 shares of the basic materials company’s stock after selling 2,942 shares during the quarter. Stifel Financial Corp’s holdings in Carpenter Technology were worth $1,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Fisher Asset Management LLC lifted its holdings in Carpenter Technology by 3.9% in the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after purchasing an additional 13,815 shares during the last quarter. Forest Avenue Capital Management LP bought a new stake in Carpenter Technology during the 3rd quarter valued at approximately $25,262,000. Natixis Advisors LLC grew its holdings in Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock valued at $3,801,000 after buying an additional 1,343 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after acquiring an additional 103,559 shares during the period. Finally, Avala Global LP increased its holdings in shares of Carpenter Technology by 21.0% during the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after purchasing an additional 73,400 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Up 0.2 %

Shares of CRS stock opened at $169.97 on Friday. The firm’s fifty day moving average price is $173.91 and its two-hundred day moving average price is $145.56. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $198.24. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $8.47 billion, a P/E ratio of 37.86, a PEG ratio of 0.90 and a beta of 1.52.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. Carpenter Technology’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. On average, equities analysts predict that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Carpenter Technology’s dividend payout ratio is presently 17.82%.

Analyst Ratings Changes

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

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.