Lisanti Capital Growth LLC Sells 22,705 Shares of Carpenter Technology Co. (NYSE:CRS)

Lisanti Capital Growth LLC cut its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 46.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,610 shares of the basic materials company's stock after selling 22,705 shares during the quarter. Lisanti Capital Growth LLC owned about 0.05% of Carpenter Technology worth $4,516,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC lifted its stake in shares of Carpenter Technology by 91.9% in the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company's stock valued at $3,364,000 after purchasing an additional 10,094 shares during the period. Fisher Asset Management LLC lifted its position in Carpenter Technology by 3.9% during the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company's stock valued at $58,137,000 after buying an additional 13,815 shares during the period. Forest Avenue Capital Management LP bought a new stake in shares of Carpenter Technology during the 3rd quarter valued at $25,262,000. Natixis Advisors LLC grew its position in shares of Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company's stock worth $3,801,000 after buying an additional 1,343 shares during the period. Finally, Manuka Financial LLC bought a new position in shares of Carpenter Technology in the 4th quarter worth about $368,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Up 4.9 %

Shares of NYSE:CRS traded up $8.42 during trading on Tuesday, reaching $180.81. 1,233,403 shares of the stock traded hands, compared to its average volume of 662,116. The stock has a market cap of $9.03 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. 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 stock has a 50-day moving average of $194.14 and a two-hundred day moving average of $174.57. Carpenter Technology Co. has a 52-week low of $63.58 and a 52-week high of $213.66.

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Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, sell-side analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal 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 given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology's dividend payout ratio (DPR) is 15.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and an average target price of $167.17.

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.