Legato Capital Management LLC Has $774,000 Stake in Carpenter Technology Co. (NYSE:CRS)

Legato Capital Management LLC lowered its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,560 shares of the basic materials company's stock after selling 1,640 shares during the quarter. Legato Capital Management LLC's holdings in Carpenter Technology were worth $774,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in shares of 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 buying an additional 191 shares during the last quarter. nVerses Capital LLC acquired a new stake in Carpenter Technology in the 3rd quarter valued at $64,000. Banque Cantonale Vaudoise acquired a new position in shares of Carpenter Technology during the third quarter worth about $65,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Carpenter Technology in the third quarter worth about $80,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology in the third quarter worth about $84,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Up 3.1 %

NYSE:CRS traded up $5.75 during trading hours on Monday, hitting $188.92. 974,277 shares of the company's stock traded hands, compared to its average volume of 711,263. 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 twelve month low of $62.99 and a twelve month high of $213.65. The stock's fifty day moving average price is $186.77 and its two-hundred day moving average price is $168.66. The firm has a market cap of $9.44 billion, a P/E ratio of 35.65, a P/E/G ratio of 0.88 and a beta of 1.54.

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, research analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRS. Benchmark restated a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of Carpenter Technology from $220.00 to $235.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $155.50.

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.