Vontobel Holding Ltd. Sells 2,695 Shares of Carpenter Technology Co. (NYSE:CRS)

Vontobel Holding Ltd. cut its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 55.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,124 shares of the basic materials company's stock after selling 2,695 shares during the period. Vontobel Holding Ltd.'s holdings in Carpenter Technology were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its holdings in Carpenter Technology by 2.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company's stock valued at $410,000 after buying an additional 63 shares during the last quarter. Strengthening Families & Communities LLC boosted its position in Carpenter Technology by 0.6% during the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company's stock worth $2,763,000 after purchasing an additional 100 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock worth $97,000 after purchasing an additional 109 shares in the last quarter. Wesbanco Bank Inc. lifted its position in shares of Carpenter Technology by 1.2% in the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company's stock valued at $1,663,000 after acquiring an additional 115 shares in the last quarter. Finally, Burney Co. boosted its stake in shares of Carpenter Technology by 6.2% during the 4th quarter. Burney Co. now owns 2,045 shares of the basic materials company's stock worth $347,000 after purchasing an additional 120 shares during the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Down 6.2 %

Shares of NYSE CRS traded down $12.80 during trading hours on Friday, hitting $195.21. The stock had a trading volume of 1,204,543 shares, compared to its average volume of 779,681. The company has a market capitalization of $9.75 billion, a P/E ratio of 36.83, a P/E/G ratio of 0.98 and a beta of 1.54. The firm's 50-day moving average price is $188.45 and its two-hundred day moving average price is $169.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a 52 week low of $62.99 and a 52 week high of $213.65.

Carpenter Technology (NYSE:CRS - Get Free Report) last released 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%. Analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology's dividend payout ratio is 15.09%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRS. Benchmark reissued a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $156.33.

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.