Carpenter Technology Co. (NYSE:CRS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Carpenter Technology Co. (NYSE:CRS) by 2.8% during the 3rd quarter, HoldingsChannel reports. 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’s holdings in Carpenter Technology were worth $24,115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Strengthening Families & Communities LLC raised its stake 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 valued at $2,763,000 after buying an additional 100 shares in the last quarter. CWM LLC grew its holdings in shares of Carpenter Technology by 12.6% during the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 103 shares during the last quarter. KBC Group NV grew its holdings in shares of Carpenter Technology by 13.5% during the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 161 shares during the last quarter. Arete Wealth Advisors LLC grew its holdings in shares of Carpenter Technology by 7.5% during the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock valued at $384,000 after purchasing an additional 169 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. assumed coverage on Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price for the company. Benchmark reaffirmed a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $153.00.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $174.09 on Friday. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $198.24. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 38.77, a price-to-earnings-growth ratio of 0.90 and a beta of 1.52. The business has a 50 day simple moving average of $173.18 and a 200 day simple moving average of $143.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping 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 business had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts anticipate that Carpenter Technology Co. will post 6.74 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd were given a $0.20 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Carpenter Technology’s dividend payout ratio (DPR) is 17.82%.

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.