Strengthening Families & Communities LLC Sells 14,484 Shares of Carpenter Technology Co. (NYSE:CRS)

Strengthening Families & Communities LLC trimmed its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 83.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,830 shares of the basic materials company's stock after selling 14,484 shares during the period. Strengthening Families & Communities LLC's holdings in Carpenter Technology were worth $480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. grew its stake in shares of Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after buying an additional 191 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Carpenter Technology in the 3rd quarter worth $64,000. Banque Cantonale Vaudoise purchased a new position in shares of Carpenter Technology during the 3rd quarter worth about $65,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Carpenter Technology during the 3rd quarter worth about $80,000. Finally, Morse Asset Management Inc purchased a new position in shares of Carpenter Technology during the 3rd quarter worth about $84,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CRS. JPMorgan Chase & Co. lifted their price target on shares of Carpenter Technology from $220.00 to $235.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Benchmark reaffirmed a "buy" rating and set 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $155.50.

Carpenter Technology Trading Up 3.1 %

CRS traded up $5.75 on Friday, reaching $188.92. 974,277 shares of the company traded hands, compared to its average volume of 713,103. Carpenter Technology Co. has a one year low of $62.99 and a one year high of $213.65. The firm has a fifty day simple moving average of $186.67 and a two-hundred day simple moving average of $168.00. The company has a market cap of $9.44 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 0.88 and a beta of 1.54. 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 announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. As a group, equities research analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Carpenter Technology's payout ratio is 15.09%.

About Carpenter Technology

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.