Peregrine Capital Management LLC Sells 8,342 Shares of Carpenter Technology Co. (NYSE:CRS)

Peregrine Capital Management LLC decreased its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,490 shares of the basic materials company's stock after selling 8,342 shares during the quarter. Peregrine Capital Management LLC owned about 0.06% of Carpenter Technology worth $5,174,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in shares of Carpenter Technology by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock worth $258,000 after buying an additional 78 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $193,000. Allworth Financial LP grew its position in shares of Carpenter Technology by 31,309.1% during the 4th quarter. Allworth Financial LP now owns 6,910 shares of the basic materials company's stock worth $1,173,000 after buying an additional 6,888 shares during the period. Rhumbline Advisers grew its position in shares of Carpenter Technology by 12.8% during the 4th quarter. Rhumbline Advisers now owns 166,362 shares of the basic materials company's stock worth $28,233,000 after buying an additional 18,820 shares during the period. Finally, New Mexico Educational Retirement Board acquired a new stake in shares of Carpenter Technology during the 4th quarter worth approximately $1,782,000. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Down 6.2 %

NYSE CRS traded down $12.80 during mid-day trading on Friday, hitting $195.21. The company's stock had a trading volume of 1,204,543 shares, compared to its average volume of 801,532. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 0.93 and a beta of 1.54. The company's 50 day simple moving average is $188.87 and its 200 day simple moving average is $170.14. Carpenter Technology Co. has a twelve month low of $62.99 and a twelve month high of $213.65.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology's dividend payout ratio is 15.09%.

Wall Street Analyst Weigh In

CRS has been the subject of several research reports. Benchmark reissued a "buy" rating and issued a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Carpenter Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.33.

Carpenter Technology 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.