Empowered Funds LLC Sells 9,437 Shares of Carpenter Technology Co. (NYSE:CRS)

Empowered Funds LLC decreased its position in Carpenter Technology Co. (NYSE:CRS) by 21.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,677 shares of the basic materials company’s stock after selling 9,437 shares during the quarter. Empowered Funds LLC’s holdings in Carpenter Technology were worth $5,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kimelman & Baird LLC bought a new stake in Carpenter Technology during the second quarter worth about $33,000. nVerses Capital LLC bought a new position in shares of Carpenter Technology during the third quarter valued at approximately $64,000. National Bank of Canada FI purchased a new position in shares of Carpenter Technology during the second quarter valued at approximately $49,000. EverSource Wealth Advisors LLC boosted its position in shares of Carpenter Technology by 58.0% in the 2nd 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. Finally, Covestor Ltd grew its stake in shares of Carpenter Technology by 469.2% in the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after buying an additional 685 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Up 2.0 %

Carpenter Technology stock opened at $175.50 on Monday. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 0.88 and a beta of 1.46. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $182.52. The stock has a fifty day simple moving average of $158.32 and a two-hundred day simple moving average of $132.98.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. Carpenter Technology’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Equities analysts predict that Carpenter Technology Co. will post 6.68 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. The ex-dividend date is 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%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. BTIG Research boosted their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Benchmark restated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and an average target price of $139.60.

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.