Carpenter Technology Co. (NYSE:CRS) Stake Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 37.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,939 shares of the basic materials company's stock after selling 9,674 shares during the period. Advisors Asset Management Inc.'s holdings in Carpenter Technology were worth $2,705,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Stratos Wealth Partners LTD. increased its stake in Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company's stock worth $410,000 after buying an additional 63 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Carpenter Technology by 11.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock worth $114,000 after acquiring an additional 71 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Carpenter Technology by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock worth $258,000 after acquiring an additional 78 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after acquiring an additional 109 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its holdings in Carpenter Technology by 1.2% in the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company's stock valued at $1,663,000 after purchasing an additional 115 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

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Carpenter Technology Stock Performance

Shares of CRS traded down $6.08 during mid-day trading on Wednesday, hitting $189.40. The stock had a trading volume of 411,538 shares, compared to its average volume of 672,124. 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 company has a market cap of $9.46 billion, a PE ratio of 35.73, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a fifty-two week low of $67.52 and a fifty-two week high of $213.66. The company's fifty day simple moving average is $195.00 and its two-hundred day simple moving average is $178.28.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, equities analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.42%. Carpenter Technology's dividend payout ratio (DPR) is 15.09%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. 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 report on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $167.17.

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.