Carpenter Technology Co. (NYSE:CRS) Stock Holdings Lowered by FORA Capital LLC

FORA Capital LLC decreased its holdings in Carpenter Technology Co. (NYSE:CRS) by 81.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,900 shares of the basic materials company’s stock after selling 12,775 shares during the quarter. FORA Capital LLC’s holdings in Carpenter Technology were worth $463,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Comerica Bank grew its holdings in shares of Carpenter Technology by 170.3% in the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock worth $4,812,000 after acquiring an additional 42,449 shares during the last quarter. Bright Futures Wealth Management LLC. purchased a new position in Carpenter Technology in the 1st quarter worth about $202,000. GAMMA Investing LLC raised its holdings in Carpenter Technology by 9.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $177,000 after buying an additional 136 shares during the period. Moody National Bank Trust Division purchased a new stake in Carpenter Technology during the second quarter valued at about $1,208,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Carpenter Technology by 227.7% in the second quarter. Harbor Capital Advisors Inc. now owns 40,438 shares of the basic materials company’s stock worth $4,431,000 after buying an additional 28,098 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS opened at $194.46 on Friday. The company has a market capitalization of $9.69 billion, a PE ratio of 43.31, a PEG ratio of 0.99 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The company’s 50 day moving average price is $165.95 and its 200 day moving average price is $137.50. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $198.24.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. During the same period in the prior year, the business posted $0.88 earnings per share. Carpenter Technology’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts expect that Carpenter Technology Co. will post 6.61 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is 17.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CRS shares. Benchmark restated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price on the stock. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.00.

Carpenter Technology 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.