Carpenter Technology Co. (NYSE:CRS) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in Carpenter Technology Co. (NYSE:CRS) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,250,734 shares of the basic materials company’s stock after selling 361,710 shares during the period. Vanguard Group Inc. owned 10.51% of Carpenter Technology worth $891,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC increased its position in shares of Carpenter Technology by 21.6% in the 4th quarter. LPL Financial LLC now owns 40,669 shares of the basic materials company’s stock valued at $6,902,000 after acquiring an additional 7,219 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Carpenter Technology during the 4th quarter valued at about $1,612,000. Sei Investments Co. increased its holdings in shares of Carpenter Technology by 147.1% in the fourth quarter. Sei Investments Co. now owns 103,219 shares of the basic materials company’s stock valued at $17,517,000 after purchasing an additional 61,449 shares during the period. American Century Companies Inc. raised its stake in shares of Carpenter Technology by 7.6% in the fourth quarter. American Century Companies Inc. now owns 517,142 shares of the basic materials company’s stock worth $87,765,000 after purchasing an additional 36,606 shares during the last quarter. Finally, Summit Global Investments acquired a new stake in shares of Carpenter Technology during the fourth quarter worth about $516,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Carpenter Technology Trading Down 2.4 %

Shares of NYSE:CRS opened at $181.32 on Friday. The company has a market capitalization of $9.06 billion, a PE ratio of 34.21, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 12-month low of $70.20 and a 12-month high of $213.66. The business has a 50 day moving average of $194.01 and a two-hundred day moving average of $178.72. 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 (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Carpenter Technology Company 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.