Empowered Funds LLC Reduces Stock Position in Carpenter Technology Co. (NYSE:CRS)

Empowered Funds LLC trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 21.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,677 shares of the basic materials company's stock after selling 9,437 shares during the period. Empowered Funds LLC owned about 0.07% of Carpenter Technology worth $5,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRS. CWM LLC raised its stake in Carpenter Technology by 12.6% in the second quarter. CWM LLC now owns 921 shares of the basic materials company's stock worth $101,000 after buying an additional 103 shares in the last quarter. GAMMA Investing LLC raised its stake in Carpenter Technology by 9.2% in the second quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company's stock worth $177,000 after buying an additional 136 shares in the last quarter. KBC Group NV increased its stake in shares of Carpenter Technology by 13.5% during the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company's stock valued at $216,000 after purchasing an additional 161 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 178 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in shares of Carpenter Technology by 8.9% during the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company's stock valued at $353,000 after purchasing an additional 180 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Stock Up 2.1 %

Shares of NYSE:CRS traded up $3.71 during trading on Monday, reaching $179.21. 639,832 shares of the stock traded hands, compared to its average volume of 591,012. The stock has a 50-day moving average of $158.32 and a two-hundred day moving average of $132.98. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week 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 stock has a market cap of $8.93 billion, a P/E ratio of 39.09, a price-to-earnings-growth ratio of 0.88 and a beta of 1.46.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm had revenue of $717.60 million for the quarter, compared to analysts' expectations of $742.96 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Carpenter Technology Co. will post 6.68 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CRS shares. Benchmark reaffirmed a "buy" rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research raised their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $139.60.

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.