Stifel Financial Corp Lowers Holdings in Carpenter Technology Co. (NYSE:CRS)

Stifel Financial Corp trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 20.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,273 shares of the basic materials company's stock after selling 2,942 shares during the quarter. Stifel Financial Corp's holdings in Carpenter Technology were worth $1,799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC grew its holdings in Carpenter Technology by 47.1% during the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock worth $552,992,000 after buying an additional 1,108,963 shares in the last quarter. Wolf Hill Capital Management LP purchased a new position in Carpenter Technology during the second quarter worth about $73,850,000. American Century Companies Inc. increased its stake in Carpenter Technology by 129.5% in the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock valued at $93,044,000 after buying an additional 479,047 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Carpenter Technology by 1,538.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company's stock valued at $34,053,000 after buying an additional 200,364 shares during the last quarter. Finally, Forest Avenue Capital Management LP purchased a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $25,262,000. Institutional investors own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRS shares. Benchmark reiterated a "buy" rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carpenter Technology in a report on Friday, November 22nd. They issued an "overweight" rating and a $220.00 price objective for the company. One equities 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, Carpenter Technology has an average rating of "Moderate Buy" and a consensus target price of $153.00.

Carpenter Technology Stock Up 0.2 %

Shares of CRS opened at $169.97 on Friday. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $198.24. The business's 50 day moving average is $173.91 and its 200 day moving average is $145.56. The company has a market capitalization of $8.47 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 0.90 and a beta of 1.52.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 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 business had revenue of $717.60 million during the quarter, compared to analysts' expectations of $742.96 million. During the same period last year, the company posted $0.88 EPS. The business's revenue was up 10.1% on a year-over-year basis. Research analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Tuesday, October 22nd. Carpenter Technology's payout ratio is currently 17.82%.

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.