Phocas Financial Corp. Decreases Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Phocas Financial Corp. trimmed its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,007 shares of the basic materials company's stock after selling 5,113 shares during the period. Carpenter Technology comprises 0.0% of Phocas Financial Corp.'s holdings, making the stock its 28th biggest holding. Phocas Financial Corp. owned about 0.16% of Carpenter Technology worth $12,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CRS. Comerica Bank raised its position in shares of Carpenter Technology by 170.3% in the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company's stock worth $4,812,000 after acquiring an additional 42,449 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Carpenter Technology during the first quarter valued at $1,347,000. Moody National Bank Trust Division purchased a new stake in shares of Carpenter Technology during the second quarter valued at $1,208,000. Blair William & Co. IL purchased a new stake in shares of Carpenter Technology during the first quarter valued at $307,000. Finally, Vanguard Group Inc. grew its holdings in shares of Carpenter Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company's stock valued at $406,096,000 after buying an additional 15,564 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Trading Up 2.2 %

Shares of NYSE:CRS traded up $3.97 during mid-day trading on Tuesday, reaching $183.18. 244,294 shares of the company were exchanged, compared to its average volume of 589,464. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 39.94, a P/E/G ratio of 0.88 and a beta of 1.46. The firm's 50-day simple moving average is $159.17 and its 200 day simple moving average is $133.54. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $183.67.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same period in the prior year, the business earned $0.88 EPS. The firm's quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts forecast that Carpenter Technology Co. will post 6.68 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology's payout ratio is currently 17.82%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRS. BTIG Research upped their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Benchmark reaffirmed a "buy" rating and issued a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and a consensus target price of $139.60.

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.