Royce & Associates LP lessened its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 24.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,820 shares of the basic materials company's stock after selling 25,530 shares during the period. Royce & Associates LP owned 0.16% of Carpenter Technology worth $13,546,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in shares of Carpenter Technology during the fourth quarter worth approximately $25,000. UMB Bank n.a. increased its stake in Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after buying an additional 191 shares during the period. Banque Cantonale Vaudoise purchased a new position in Carpenter Technology during the 3rd quarter worth $65,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology in the 3rd quarter worth $80,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology in the third quarter valued at about $84,000. 92.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently issued reports on CRS shares. JPMorgan Chase & Co. increased their price target on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 target price on Carpenter Technology in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.17.
Read Our Latest Research Report on CRS
Carpenter Technology Price Performance
Shares of NYSE CRS traded down $2.43 during midday trading on Friday, hitting $183.75. The company had a trading volume of 1,441,837 shares, compared to its average volume of 669,554. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a twelve month low of $67.52 and a twelve month high of $213.66. The business has a 50-day simple moving average of $195.00 and a two-hundred day simple moving average of $176.55. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40.
Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results 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 net margin of 9.34% and a return on equity of 19.88%. Equities research analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.
Carpenter Technology Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders 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 dividend on an annualized basis and a yield of 0.44%. Carpenter Technology's payout ratio is 15.09%.
Carpenter Technology Company Profile
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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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