Tompkins Financial Corp Decreases Holdings in Carpenter Technology Co. (NYSE:CRS)

Tompkins Financial Corp lowered its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,406 shares of the basic materials company’s stock after selling 642 shares during the period. Tompkins Financial Corp’s holdings in Carpenter Technology were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CRS. Kimelman & Baird LLC purchased a new stake in Carpenter Technology during the 2nd quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its position 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 worth $53,000 after purchasing an additional 178 shares in the last quarter. nVerses Capital LLC acquired a new position in Carpenter Technology in the 3rd quarter valued at $64,000. Banque Cantonale Vaudoise purchased a new position in Carpenter Technology in the 3rd quarter valued at $65,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Carpenter Technology during the 3rd quarter worth $80,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Up 1.2 %

NYSE CRS opened at $200.81 on Friday. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $202.58. The business’s fifty day simple moving average is $182.14 and its 200-day simple moving average is $156.23. The firm has a market cap of $10.01 billion, a PE ratio of 44.72, a P/E/G ratio of 0.88 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS 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 company had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. During the same period in the previous year, the firm earned $0.88 earnings per share. Carpenter Technology’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Carpenter Technology Co. will post 6.77 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.40%. Carpenter Technology’s payout ratio is 17.82%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price for the company. Benchmark reiterated a “buy” rating and issued a $175.00 price objective 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.