First Trust Advisors LP trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,152 shares of the basic materials company’s stock after selling 2,786 shares during the period. First Trust Advisors LP owned approximately 0.08% of Carpenter Technology worth $1,945,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. ING Groep NV increased its stake in Carpenter Technology by 23.3% during the fourth quarter. ING Groep NV now owns 7,064 shares of the basic materials company’s stock valued at $360,000 after acquiring an additional 1,337 shares during the period. Rhumbline Advisers increased its stake in Carpenter Technology by 1.3% during the third quarter. Rhumbline Advisers now owns 103,659 shares of the basic materials company’s stock valued at $4,979,000 after acquiring an additional 1,342 shares during the period. Legal & General Group Plc increased its stake in Carpenter Technology by 2.5% during the third quarter. Legal & General Group Plc now owns 62,202 shares of the basic materials company’s stock valued at $2,985,000 after acquiring an additional 1,492 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Carpenter Technology by 90.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,225 shares of the basic materials company’s stock valued at $154,000 after acquiring an additional 1,529 shares during the period. Finally, Macquarie Group Ltd. increased its stake in Carpenter Technology by 3.9% during the third quarter. Macquarie Group Ltd. now owns 42,458 shares of the basic materials company’s stock valued at $2,039,000 after acquiring an additional 1,577 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.
Shares of CRS stock opened at $46.10 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 2.99. The firm has a market capitalization of $2,262.31, a P/E ratio of 23.41 and a beta of 1.96. Carpenter Technology Co. has a 1-year low of $34.24 and a 1-year high of $54.61.
Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $487.80 million for the quarter, compared to the consensus estimate of $482.20 million. Carpenter Technology had a return on equity of 7.94% and a net margin of 8.30%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. equities research analysts predict that Carpenter Technology Co. will post 2.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Tuesday, February 6th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Monday, February 5th. Carpenter Technology’s payout ratio is 21.24%.
Several brokerages recently issued reports on CRS. Zacks Investment Research upgraded Carpenter Technology from a “sell” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research note on Thursday, January 18th. Cowen restated a “hold” rating and set a $53.00 price target on shares of Carpenter Technology in a research note on Sunday, December 10th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Carpenter Technology has an average rating of “Hold” and an average target price of $54.67.
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Carpenter Technology Profile
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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