Van ECK Associates Corp cut its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 22.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,129 shares of the basic materials company's stock after selling 5,737 shares during the quarter. Van ECK Associates Corp's holdings in Carpenter Technology were worth $3,416,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in Carpenter Technology by 91.9% in the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company's stock worth $3,364,000 after purchasing an additional 10,094 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Carpenter Technology by 3.9% during the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company's stock valued at $58,137,000 after acquiring an additional 13,815 shares in the last quarter. Forest Avenue Capital Management LP acquired a new position in shares of Carpenter Technology during the third quarter valued at about $25,262,000. Natixis Advisors LLC increased its holdings in shares of Carpenter Technology by 6.0% during the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company's stock valued at $3,801,000 after acquiring an additional 1,343 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of Carpenter Technology during the fourth quarter valued at about $419,000. 92.03% of the stock is currently owned by institutional investors.
Carpenter Technology Stock Performance
Carpenter Technology stock traded down $12.80 during mid-day trading on Friday, hitting $195.21. The company had a trading volume of 1,204,543 shares, compared to its average volume of 801,532. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 12-month low of $62.99 and a 12-month high of $213.65. The company's fifty day moving average is $188.87 and its 200-day moving average is $170.14. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 0.93 and a beta of 1.54.
Carpenter Technology (NYSE:CRS - Get Free Report) last announced its 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 return on equity of 19.88% and a net margin of 9.34%. Equities research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.
Carpenter Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology's dividend payout ratio is currently 15.09%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on CRS shares. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday. Benchmark reiterated a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $156.33.
View Our Latest Stock Analysis on Carpenter Technology
About Carpenter Technology
(
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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