Carpenter Technology Co. (NYSE:CRS) Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd lessened its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,840 shares of the basic materials company’s stock after selling 1,027 shares during the period. Premier Fund Managers Ltd’s holdings in Carpenter Technology were worth $1,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Stratos Wealth Partners LTD. grew its stake in shares of Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after purchasing an additional 63 shares during the period. EverSource Wealth Advisors LLC grew its position in Carpenter Technology by 11.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after buying an additional 71 shares during the period. CIBC Asset Management Inc increased its holdings in Carpenter Technology by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after buying an additional 78 shares in the last quarter. Fifth Third Bancorp lifted its position 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 valued at $97,000 after acquiring an additional 109 shares during the period. Finally, Wesbanco Bank Inc. grew its holdings in shares of Carpenter Technology by 1.2% in the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CRS shares. JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $186.00 on Friday. 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 fifty-two week low of $69.90 and a fifty-two week high of $213.66. The stock has a fifty day moving average of $194.52 and a two-hundred day moving average of $178.42. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) 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 net margin of 9.34% and a return on equity of 19.88%. On average, analysts anticipate that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.43%. Carpenter Technology’s payout ratio is currently 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.