Great Lakes Advisors LLC Decreases Holdings in Carpenter Technology Co. (NYSE:CRS)

Great Lakes Advisors LLC trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,444 shares of the basic materials company's stock after selling 3,410 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.05% of Carpenter Technology worth $4,488,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Carpenter Technology by 11.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock worth $114,000 after acquiring an additional 71 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Carpenter Technology by 57.6% during the fourth quarter. HighTower Advisors LLC now owns 22,360 shares of the basic materials company's stock worth $3,795,000 after acquiring an additional 8,168 shares during the last quarter. Dearborn Partners LLC raised its position in shares of Carpenter Technology by 9.3% during the fourth quarter. Dearborn Partners LLC now owns 2,787 shares of the basic materials company's stock worth $473,000 after acquiring an additional 237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Carpenter Technology by 15.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,967 shares of the basic materials company's stock worth $2,201,000 after acquiring an additional 1,717 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Carpenter Technology during the fourth quarter worth about $5,501,000. 92.03% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

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

Carpenter Technology Stock Up 5.2 %

Shares of NYSE CRS traded up $9.39 during midday trading on Wednesday, hitting $190.93. 673,974 shares of the stock traded hands, compared to its average volume of 851,836. The business has a 50 day moving average price of $194.80 and a two-hundred day moving average price of $176.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a one year low of $67.24 and a one year high of $213.66. The company has a market cap of $9.54 billion, a PE ratio of 36.02, a P/E/G ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (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%. On average, equities analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Carpenter Technology's dividend payout ratio is currently 15.09%.

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.