Wellington Management Group LLP Lowers Holdings in Carpenter Technology Co. (NYSE:CRS)

Wellington Management Group LLP decreased its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,117 shares of the basic materials company's stock after selling 4,353 shares during the quarter. Wellington Management Group LLP owned about 0.30% of Carpenter Technology worth $24,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of CRS. FMR LLC increased its holdings in shares of Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock worth $552,992,000 after acquiring an additional 1,108,963 shares during the period. Wolf Hill Capital Management LP acquired a new position in Carpenter Technology during the 2nd quarter worth $73,850,000. American Century Companies Inc. grew its position in Carpenter Technology by 129.5% in the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock worth $93,044,000 after purchasing an additional 479,047 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Carpenter Technology by 1,538.1% in the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company's stock valued at $34,053,000 after purchasing an additional 200,364 shares in the last quarter. Finally, Forest Avenue Capital Management LP bought a new position in Carpenter Technology during the third quarter worth about $25,262,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Down 1.7 %

Shares of NYSE CRS traded down $3.08 during midday trading on Friday, hitting $174.09. 585,451 shares of the stock traded hands, compared to its average volume of 594,960. The company has a market cap of $8.68 billion, a PE ratio of 38.77, a P/E/G ratio of 0.90 and a beta of 1.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $198.24. The business has a 50 day moving average price of $173.18 and a two-hundred day moving average price of $143.92.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm 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 firm earned $0.88 EPS. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Carpenter Technology Co. will post 6.74 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Tuesday, October 22nd. Carpenter Technology's dividend payout ratio is presently 17.82%.

Analyst Upgrades and Downgrades

CRS has been the subject of several research reports. Benchmark restated a "buy" rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a report on Friday, November 22nd. They set an "overweight" rating and a $220.00 price objective for the company. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $153.00.

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.