Carpenter Technology Co. (NYSE:CRS) Shares Sold by L & S Advisors Inc

L & S Advisors Inc lessened its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 33.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,385 shares of the basic materials company's stock after selling 5,143 shares during the period. L & S Advisors Inc's holdings in Carpenter Technology were worth $1,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRS. State Board of Administration of Florida Retirement System raised its holdings in shares of Carpenter Technology by 22.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,792 shares of the basic materials company's stock valued at $1,199,000 after purchasing an additional 3,030 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Carpenter Technology in the 1st quarter valued at $307,000. Vanguard Group Inc. raised its stake in Carpenter Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company's stock worth $406,096,000 after acquiring an additional 15,564 shares in the last quarter. Covestor Ltd raised its stake in Carpenter Technology by 469.2% during the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company's stock worth $59,000 after acquiring an additional 685 shares in the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in Carpenter Technology during the 1st quarter worth $795,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CRS shares. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research report on Friday. They set an "overweight" rating and a $220.00 price objective on the stock. Benchmark reissued a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. Finally, BTIG Research lifted their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Carpenter Technology presently has an average rating of "Moderate Buy" and an average target price of $153.00.

Carpenter Technology Trading Up 5.6 %

Shares of CRS traded up $10.18 on Friday, hitting $190.89. 1,076,104 shares of the stock traded hands, compared to its average volume of 592,642. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $9.51 billion, a P/E ratio of 42.51, a P/E/G ratio of 0.94 and a beta of 1.46. The stock's 50 day moving average is $161.90 and its two-hundred day moving average is $134.76. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $192.34.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, sell-side analysts predict that Carpenter Technology Co. will post 6.61 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology's dividend payout ratio is currently 17.82%.

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.