Carpenter Technology Co. (NYSE:CRS) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,231 shares of the basic materials company's stock after selling 9,031 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of Carpenter Technology worth $13,920,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC grew its stake in shares of Carpenter Technology by 3.9% during the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company's stock valued at $58,137,000 after acquiring an additional 13,815 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Carpenter Technology by 6.0% in the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company's stock valued at $3,801,000 after purchasing an additional 1,343 shares during the last quarter. Forest Avenue Capital Management LP acquired a new stake in Carpenter Technology during the 3rd quarter valued at approximately $25,262,000. Charles Schwab Investment Management Inc. increased its holdings in Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company's stock worth $122,794,000 after purchasing an additional 103,559 shares during the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at approximately $1,460,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Benchmark reissued a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They set an "overweight" rating and a $220.00 price objective for the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and a consensus target price of $153.00.

Carpenter Technology Stock Performance

CRS traded down $1.34 during trading hours on Friday, hitting $193.52. 497,231 shares of the stock were exchanged, compared to its average volume of 539,714. 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 Co. has a 12 month low of $58.87 and a 12 month high of $198.24. The stock has a 50-day simple moving average of $171.01 and a 200-day simple moving average of $141.69. The stock has a market cap of $9.65 billion, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52.

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

Carpenter Technology Dividend Announcement

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