Stifel Financial Corp Sells 2,942 Shares of Carpenter Technology Co. (NYSE:CRS)

Stifel Financial Corp trimmed its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 20.7% during the 3rd quarter, according to the company in its most recent Form 13F filing 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Strengthening Families & Communities LLC raised its position in Carpenter Technology by 0.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company's stock valued at $2,763,000 after purchasing an additional 100 shares during the last quarter. KBC Group NV raised its holdings in shares of Carpenter Technology by 13.5% during the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company's stock valued at $216,000 after acquiring an additional 161 shares in the last quarter. Arete Wealth Advisors LLC lifted its stake in Carpenter Technology by 7.5% in the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company's stock worth $384,000 after acquiring an additional 169 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock worth $53,000 after acquiring an additional 178 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in Carpenter Technology by 8.9% in the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company's stock valued at $353,000 after acquiring an additional 180 shares in the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Up 0.2 %

Shares of NYSE:CRS traded up $0.38 during midday trading on Friday, reaching $169.97. The company's stock had a trading volume of 9,713,210 shares, compared to its average volume of 636,843. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $174.07 and a 200-day moving average of $145.98. The firm has a market capitalization of $8.47 billion, a P/E ratio of 37.86, a PEG ratio of 0.90 and a beta of 1.52. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $198.24.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share 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 for the quarter, compared to analysts' expectations of $742.96 million. During the same quarter in the prior year, the company earned $0.88 earnings per share. The business's revenue was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd were paid 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 17.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CRS shares. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They issued an "overweight" rating and a $220.00 target price for the company. Benchmark reissued a "buy" rating and issued a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $153.00.

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.