Carpenter Technology Co. (NYSE:CRS) Shares Sold by FORA Capital LLC

FORA Capital LLC lowered its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 81.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,900 shares of the basic materials company's stock after selling 12,775 shares during the quarter. FORA Capital LLC's holdings in Carpenter Technology were worth $463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRS. FMR LLC grew its stake in Carpenter Technology by 47.1% in the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock worth $552,992,000 after purchasing an additional 1,108,963 shares in the last quarter. Wolf Hill Capital Management LP bought a new position in Carpenter Technology in the second quarter worth approximately $73,850,000. American Century Companies Inc. grew its stake in Carpenter Technology by 129.5% in the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock worth $93,044,000 after purchasing an additional 479,047 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Carpenter Technology by 1,538.1% in the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company's stock worth $34,053,000 after purchasing an additional 200,364 shares in the last quarter. Finally, Forest Avenue Capital Management LP bought a new position in Carpenter Technology in the third quarter worth approximately $25,262,000. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Down 0.2 %

NYSE CRS traded down $0.36 during midday trading on Friday, hitting $194.10. 283,217 shares of the company traded hands, compared to its average volume of 593,276. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The company has a market cap of $9.68 billion, a PE ratio of 43.48, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46. The company's 50-day simple moving average is $166.74 and its 200-day simple moving average is $137.90. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $198.24.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted 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. The firm had revenue of $717.60 million during the quarter, compared to analysts' expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. As a group, equities research analysts forecast that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Carpenter Technology's payout ratio is 17.82%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CRS shares. Benchmark reissued a "buy" rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an "overweight" rating and a $220.00 target price on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, Carpenter Technology currently has a consensus rating of "Moderate Buy" and an average target price of $153.00.

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.