L & S Advisors Inc reduced its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,944 shares of the basic materials company's stock after selling 1,441 shares during the quarter. L & S Advisors Inc's holdings in Carpenter Technology were worth $1,518,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the fourth quarter valued at $25,000. UMB Bank n.a. increased its stake in shares of Carpenter Technology by 169.0% during the fourth 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. Wilmington Savings Fund Society FSB acquired a new position in shares of Carpenter Technology during the 3rd quarter worth about $80,000. Morse Asset Management Inc purchased a new position in Carpenter Technology in the 3rd quarter valued at about $84,000. Finally, Fifth Third Bancorp increased its stake in Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.
Carpenter Technology Trading Down 8.0 %
Shares of NYSE CRS traded down $14.99 during midday trading on Thursday, reaching $172.36. 365,285 shares of the stock were exchanged, compared to its average volume of 804,552. The stock has a market capitalization of $8.61 billion, a P/E ratio of 32.52, a PEG ratio of 0.93 and a beta of 1.28. Carpenter Technology Co. has a twelve month low of $73.95 and a twelve month high of $213.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The company has a 50 day simple moving average of $192.52 and a 200 day simple moving average of $179.96.
Carpenter Technology (NYSE:CRS - Get Free Report) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating 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, equities analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.
Carpenter Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders 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 dividend yield of 0.46%. Carpenter Technology's dividend payout ratio is currently 15.09%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.17.
Read Our Latest Research Report on CRS
Carpenter Technology Profile
(
Free Report)
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.
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