Carpenter Technology Co. (NYSE:CRS) Stake Lessened by L & S Advisors Inc

L & S Advisors Inc trimmed its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 13.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,944 shares of the basic materials company’s stock after selling 1,441 shares during the quarter. L & S Advisors Inc’s holdings in Carpenter Technology were worth $1,518,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of Carpenter Technology during the fourth quarter worth about $25,000. UMB Bank n.a. raised its stake in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after buying an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Carpenter Technology during the 3rd quarter worth approximately $80,000. Morse Asset Management Inc bought a new stake in shares of Carpenter Technology in the 3rd quarter valued at approximately $84,000. Finally, Fifth Third Bancorp raised its position in shares of Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 109 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRS has been the subject of several recent research reports. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research note 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 research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Stock Down 2.4 %

Carpenter Technology stock opened at $181.32 on Friday. The firm has a market capitalization of $9.06 billion, a P/E ratio of 34.21, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a 50-day simple moving average of $194.01 and a 200-day simple moving average of $179.03. Carpenter Technology Co. has a one year low of $70.20 and a one year high of $213.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating the consensus estimate 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, equities analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. 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.