Thrivent Financial for Lutherans Sells 10,955 Shares of Carpenter Technology Co. (NYSE:CRS)

Thrivent Financial for Lutherans lowered its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 21.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,223 shares of the basic materials company's stock after selling 10,955 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Carpenter Technology worth $6,259,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Kimelman & Baird LLC bought a new position in shares of Carpenter Technology during the 2nd quarter worth about $33,000. National Bank of Canada FI acquired a new position in Carpenter Technology in the 2nd quarter valued at approximately $49,000. EverSource Wealth Advisors LLC lifted its position in shares of Carpenter Technology by 58.0% in the 2nd 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. Covestor Ltd grew its holdings in shares of Carpenter Technology by 469.2% during the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company's stock worth $59,000 after purchasing an additional 685 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Carpenter Technology during the 3rd quarter worth approximately $64,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on CRS. BTIG Research raised their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a research note on Friday. They issued an "overweight" rating and a $220.00 target price on the stock. Finally, Benchmark reaffirmed a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a report 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $153.00.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock traded up $10.26 during mid-day trading on Friday, reaching $190.97. 1,076,438 shares of the stock were exchanged, compared to its average volume of 635,837. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $192.34. The company has a market cap of $9.52 billion, a price-to-earnings ratio of 42.51, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46. The firm has a 50-day simple moving average of $161.90 and a 200 day simple moving average of $134.76. 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 (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company's revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.88 earnings per share. On average, sell-side analysts predict that Carpenter Technology Co. will post 6.61 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology's dividend payout ratio is currently 17.82%.

Carpenter Technology 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.