XML Financial LLC Cuts Stock Position in Carpenter Technology Co. (NYSE:CRS)

XML Financial LLC reduced its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 50.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,000 shares of the basic materials company's stock after selling 3,000 shares during the quarter. XML Financial LLC's holdings in Carpenter Technology were worth $479,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CRS. Vanguard Group Inc. lifted its holdings in shares of Carpenter Technology by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company's stock valued at $406,096,000 after purchasing an additional 15,564 shares in the last quarter. American Century Companies Inc. raised its position in Carpenter Technology by 129.5% in the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock valued at $93,044,000 after buying an additional 479,047 shares during the last quarter. Wolf Hill Capital Management LP bought a new position in Carpenter Technology during the 2nd quarter valued at $73,850,000. Bayberry Capital Partners LP purchased a new position in Carpenter Technology during the 1st quarter worth $35,887,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Carpenter Technology by 1,538.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company's stock worth $34,053,000 after acquiring an additional 200,364 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CRS shares. Benchmark reaffirmed a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. BTIG Research raised their target price on Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and a consensus price target of $139.60.

Carpenter Technology Trading Up 1.0 %

NYSE:CRS traded up $1.71 during midday trading on Monday, reaching $178.87. 456,629 shares of the stock traded hands, compared to its average volume of 592,883. The stock has a market capitalization of $8.92 billion, a P/E ratio of 39.87, a PEG ratio of 0.89 and a beta of 1.46. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $182.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The company has a fifty day moving average of $154.37 and a 200 day moving average of $129.83.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping 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 firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same period last year, the company earned $0.88 EPS. The business's quarterly revenue was up 10.1% compared to the same quarter last year. On average, research analysts predict that Carpenter Technology Co. will post 6.68 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Carpenter Technology's dividend payout ratio is presently 17.82%.

Carpenter Technology Company 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.