Emerald Advisers LLC Sells 154,143 Shares of Carpenter Technology Co. (NYSE:CRS)

Emerald Advisers LLC lessened its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 41.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 215,863 shares of the basic materials company's stock after selling 154,143 shares during the quarter. Carpenter Technology accounts for approximately 1.4% of Emerald Advisers LLC's holdings, making the stock its 14th largest holding. Emerald Advisers LLC owned 0.43% of Carpenter Technology worth $36,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in shares of Carpenter Technology during the fourth quarter worth $25,000. UMB Bank n.a. increased its holdings in Carpenter Technology by 169.0% during the 4th 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. Banque Cantonale Vaudoise bought a new position in Carpenter Technology during the 3rd quarter worth about $65,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology in the 3rd quarter valued at about $80,000. Finally, Morse Asset Management Inc bought a new stake in shares of Carpenter Technology in the third quarter valued at about $84,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

Shares of CRS stock traded down $3.12 during trading on Thursday, reaching $186.00. 373,374 shares of the company's stock were exchanged, compared to its average volume of 674,019. The firm's fifty day moving average price is $194.52 and its 200-day moving average price is $178.42. Carpenter Technology Co. has a twelve month low of $69.90 and a twelve month high of $213.66. The stock has a market capitalization of $9.29 billion, a PE ratio of 35.09, a PEG ratio of 0.93 and a beta of 1.55. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40.

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Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, sell-side analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.43%. Carpenter Technology's dividend payout ratio is 15.09%.

Wall Street Analyst Weigh In

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

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.