Janney Montgomery Scott LLC Decreases Position in Carpenter Technology Co. (NYSE:CRS)

Janney Montgomery Scott LLC reduced its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,155 shares of the basic materials company's stock after selling 3,294 shares during the period. Janney Montgomery Scott LLC's holdings in Carpenter Technology were worth $3,421,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CRS. UMB Bank n.a. increased its position in shares of Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after purchasing an additional 191 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Carpenter Technology during the third quarter worth $64,000. Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology in the third quarter valued at about $65,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology in the third quarter valued at about $80,000. Finally, Morse Asset Management Inc purchased a new position in shares of Carpenter Technology in the third quarter worth about $84,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Benchmark reiterated a "buy" rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on Carpenter Technology from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $155.50.

Carpenter Technology Trading Down 1.2 %

Shares of Carpenter Technology stock traded down $2.24 during mid-day trading on Monday, hitting $190.82. The stock had a trading volume of 405,946 shares, compared to its average volume of 733,814. The firm has a 50-day moving average of $187.81 and a two-hundred day moving average of $164.26. The firm has a market cap of $9.53 billion, a P/E ratio of 35.98, a price-to-earnings-growth ratio of 0.92 and a beta of 1.54. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $213.65.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Sell-side analysts forecast 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 will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Carpenter Technology's payout ratio is currently 15.09%.

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.