Carpenter Technology Co. (NYSE:CRS) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 36.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,350 shares of the basic materials company's stock after selling 59,540 shares during the period. Royce & Associates LP owned about 0.21% of Carpenter Technology worth $16,812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank raised its position in Carpenter Technology by 170.3% in the first quarter. Comerica Bank now owns 67,380 shares of the basic materials company's stock worth $4,812,000 after acquiring an additional 42,449 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Carpenter Technology in the 1st quarter valued at about $1,347,000. Moody National Bank Trust Division acquired a new stake in shares of Carpenter Technology in the second quarter valued at about $1,208,000. Blair William & Co. IL purchased a new stake in Carpenter Technology during the first quarter worth about $307,000. Finally, Vanguard Group Inc. boosted its holdings in Carpenter Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company's stock worth $406,096,000 after buying an additional 15,564 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRS. BTIG Research lifted their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Benchmark reaffirmed a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, Carpenter Technology has an average rating of "Moderate Buy" and an average price target of $139.60.

Carpenter Technology Price Performance

Shares of CRS stock traded up $3.51 during trading hours on Friday, hitting $175.50. The company's stock had a trading volume of 314,957 shares, compared to its average volume of 590,792. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $182.52. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 39.09, a P/E/G ratio of 0.89 and a beta of 1.46. The business has a fifty day moving average of $158.32 and a 200-day moving average of $132.74.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $742.96 million. During the same quarter last year, the business posted $0.88 earnings per share. Carpenter Technology's revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Carpenter Technology Co. will post 6.68 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Carpenter Technology's dividend payout ratio (DPR) is 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.