Hodges Capital Management Inc. Sells 2,089 Shares of Carpenter Technology Co. (NYSE:CRS)

Hodges Capital Management Inc. trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 7.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,473 shares of the basic materials company's stock after selling 2,089 shares during the period. Hodges Capital Management Inc. owned approximately 0.05% of Carpenter Technology worth $4,323,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its holdings in Carpenter Technology by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 26,930 shares of the basic materials company's stock valued at $2,951,000 after purchasing an additional 328 shares in the last quarter. Creative Planning boosted its stake in Carpenter Technology by 73.9% in the 2nd quarter. Creative Planning now owns 7,458 shares of the basic materials company's stock valued at $817,000 after buying an additional 3,170 shares in the last quarter. Cetera Investment Advisers grew its position in Carpenter Technology by 4.8% in the second quarter. Cetera Investment Advisers now owns 11,119 shares of the basic materials company's stock valued at $1,218,000 after acquiring an additional 506 shares during the period. SG Americas Securities LLC increased its position in shares of Carpenter Technology by 115.7% during the 3rd quarter. SG Americas Securities LLC now owns 3,701 shares of the basic materials company's stock worth $591,000 after purchasing an additional 1,985 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Carpenter Technology by 35.9% during the third quarter. Handelsbanken Fonder AB now owns 10,600 shares of the basic materials company's stock worth $1,692,000 after buying an additional 2,800 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRS shares. Benchmark reaffirmed a "buy" rating and issued a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price objective 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $155.50.

Carpenter Technology Trading Down 1.5 %

Shares of CRS traded down $2.81 during trading hours on Thursday, reaching $189.90. The stock had a trading volume of 518,341 shares, compared to its average volume of 722,706. The company has a market cap of $9.49 billion, a P/E ratio of 35.83, a P/E/G ratio of 0.92 and a beta of 1.54. Carpenter Technology Co. has a 52 week low of $60.52 and a 52 week high of $213.65. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $187.52 and a 200 day moving average of $165.65.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, sell-side analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology's dividend payout ratio is presently 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.