Carpenter Technology Co. (NYSE:CRS) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in Carpenter Technology Co. (NYSE:CRS) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 704,452 shares of the basic materials company’s stock after selling 65,033 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Carpenter Technology were worth $119,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the fourth quarter valued at approximately $25,000. UMB Bank n.a. increased its holdings in shares of Carpenter Technology by 169.0% in 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. Banque Cantonale Vaudoise acquired a new stake in shares of Carpenter Technology during the 3rd quarter valued at $65,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Carpenter Technology during the 3rd quarter worth $80,000. Finally, Morse Asset Management Inc acquired a new position in shares of Carpenter Technology in the 3rd quarter worth $84,000. Institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. BTIG Research set a $230.00 price target on Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $180.32 on Friday. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 1-year low of $63.58 and a 1-year high of $213.66. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $194.14 and its 200-day simple moving average is $174.35.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, sell-side analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.44%. Carpenter Technology’s dividend payout ratio is presently 15.09%.

About Carpenter Technology

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.