Bank of Montreal Can Lowers Stock Position in Carpenter Technology Co. (NYSE:CRS)

Bank of Montreal Can cut its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,654 shares of the basic materials company's stock after selling 5,714 shares during the period. Bank of Montreal Can owned about 0.08% of Carpenter Technology worth $6,390,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CRS. Morse Asset Management Inc acquired a new position in shares of Carpenter Technology during the third quarter worth $84,000. Barclays PLC grew its position in shares of Carpenter Technology by 471.1% in the 3rd quarter. Barclays PLC now owns 101,745 shares of the basic materials company's stock valued at $16,236,000 after buying an additional 83,930 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Carpenter Technology by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company's stock valued at $175,607,000 after buying an additional 17,497 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Carpenter Technology during the third quarter worth about $80,000. Finally, Tidal Investments LLC lifted its stake in shares of Carpenter Technology by 91.9% in the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company's stock worth $3,364,000 after acquiring an additional 10,094 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Down 1.2 %

CRS traded down $1.99 during midday trading on Friday, hitting $170.19. The company had a trading volume of 435,729 shares, compared to its average volume of 738,365. Carpenter Technology Co. has a 52 week low of $75.73 and a 52 week high of $213.66. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 0.93 and a beta of 1.28. The stock's 50 day moving average price is $183.77 and its 200 day moving average price is $180.66. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40.

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

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Tuesday, April 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is 15.09%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research report on Friday, January 31st. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Finally, 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 research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Carpenter Technology currently has a consensus rating of "Moderate Buy" and an average target price of $167.17.

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.