Vanguard Group Inc. Lowers Position in Carpenter Technology Co. (NYSE:CRS)

Vanguard Group Inc. decreased its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,250,734 shares of the basic materials company's stock after selling 361,710 shares during the quarter. Vanguard Group Inc. owned about 10.51% of Carpenter Technology worth $891,102,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CRS. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the fourth quarter worth approximately $25,000. UMB Bank n.a. raised its position in shares of Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after buying an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Carpenter Technology during the 3rd quarter worth approximately $80,000. Morse Asset Management Inc acquired a new position in Carpenter Technology during the third quarter valued at approximately $84,000. Finally, Fifth Third Bancorp lifted its stake in Carpenter Technology by 23.5% during the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after purchasing an additional 109 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CRS shares. BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $167.17.

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Carpenter Technology Trading Down 1.0 %

Shares of CRS traded down $1.78 during trading hours on Tuesday, hitting $179.40. The company had a trading volume of 190,328 shares, compared to its average volume of 810,297. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The firm has a market cap of $8.96 billion, a P/E ratio of 33.85, a P/E/G ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 52-week low of $70.19 and a 52-week high of $213.66. The stock's 50 day moving average price is $193.50 and its 200 day moving average price is $179.63.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping the consensus estimate 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 predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology's dividend payout ratio is 15.09%.

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.