Alberta Investment Management Corp Sells 4,068 Shares of Carpenter Technology Co. (NYSE:CRS)

Alberta Investment Management Corp lowered its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,049 shares of the basic materials company's stock after selling 4,068 shares during the quarter. Alberta Investment Management Corp owned 0.05% of Carpenter Technology worth $4,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRS. CWM LLC raised its position in shares of Carpenter Technology by 59.0% during the 3rd quarter. CWM LLC now owns 1,464 shares of the basic materials company's stock valued at $234,000 after buying an additional 543 shares in the last quarter. Creative Planning raised its position in shares of Carpenter Technology by 55.0% during the 3rd quarter. Creative Planning now owns 11,558 shares of the basic materials company's stock valued at $1,844,000 after buying an additional 4,100 shares in the last quarter. Raymond James & Associates raised its position in shares of Carpenter Technology by 2.5% during the 3rd quarter. Raymond James & Associates now owns 120,971 shares of the basic materials company's stock valued at $19,305,000 after buying an additional 2,977 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Carpenter Technology by 523.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 112,049 shares of the basic materials company's stock valued at $17,881,000 after buying an additional 94,083 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of Carpenter Technology by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company's stock valued at $846,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CRS shares. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday. Benchmark reiterated a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $156.33.

Carpenter Technology Trading Down 6.2 %

NYSE:CRS traded down $12.80 during trading hours on Friday, reaching $195.21. The company's stock had a trading volume of 1,204,543 shares, compared to its average volume of 801,532. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 0.93 and a beta of 1.54. The firm has a 50-day simple moving average of $188.87 and a 200-day simple moving average of $170.14. Carpenter Technology Co. has a 1 year low of $62.99 and a 1 year high of $213.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (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%. Research analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology's dividend payout ratio (DPR) is presently 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.