Hodges Capital Management Inc. Has $4.40 Million Stake in Carpenter Technology Co. (NYSE:CRS)

Hodges Capital Management Inc. trimmed its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 37.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,562 shares of the basic materials company's stock after selling 16,429 shares during the quarter. Hodges Capital Management Inc. owned about 0.06% of Carpenter Technology worth $4,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Zacks Investment Management lifted its position in shares of Carpenter Technology by 165.6% during the 3rd quarter. Zacks Investment Management now owns 13,675 shares of the basic materials company's stock worth $2,182,000 after purchasing an additional 8,527 shares during the last quarter. National Bank of Canada FI increased its position in Carpenter Technology by 8,300.2% in the 3rd quarter. National Bank of Canada FI now owns 38,473 shares of the basic materials company's stock worth $6,140,000 after buying an additional 38,015 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Carpenter Technology during the third quarter worth approximately $331,000. Weiss Asset Management LP bought a new stake in shares of Carpenter Technology in the third quarter valued at approximately $725,000. Finally, Systematic Financial Management LP acquired a new stake in shares of Carpenter Technology in the third quarter worth $222,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CRS shares. Benchmark restated a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research note on Friday, November 22nd. They set an "overweight" rating and a $220.00 price target on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $153.00.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock traded down $1.34 during trading on Friday, hitting $193.52. 497,231 shares of the company's stock traded hands, compared to its average volume of 539,714. The company has a market cap of $9.65 billion, a PE ratio of 43.10, a PEG ratio of 0.97 and a beta of 1.52. The firm's fifty day moving average price is $171.01 and its 200 day moving average price is $141.92. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $198.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. During the same period in the previous year, the business earned $0.88 earnings per share. The company's quarterly revenue was up 10.1% on a year-over-year basis. Analysts forecast that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.41%. Carpenter Technology's dividend payout ratio 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.