American Trust Sells 567 Shares of Carpenter Technology Co. (NYSE:CRS)

American Trust lessened its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 20.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,233 shares of the basic materials company’s stock after selling 567 shares during the quarter. American Trust’s holdings in Carpenter Technology were worth $356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its stake in Carpenter Technology by 47.1% during the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after acquiring an additional 1,108,963 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Carpenter Technology by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock valued at $175,607,000 after purchasing an additional 17,497 shares during the period. American Century Companies Inc. grew its position in shares of Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after purchasing an additional 479,047 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after purchasing an additional 103,559 shares during the period. Finally, Wolf Hill Capital Management LP purchased a new stake in shares of Carpenter Technology in the second quarter worth $73,850,000. 92.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CRS. JPMorgan Chase & Co. assumed coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price for the company. Benchmark reissued a “buy” rating and set 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology Stock Down 1.7 %

CRS opened at $174.09 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. The business’s fifty day simple moving average is $173.18 and its 200 day simple moving average is $143.92. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $198.24. The stock has a market cap of $8.68 billion, a PE ratio of 38.77, a P/E/G ratio of 0.90 and a beta of 1.52.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. As a group, research analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Carpenter Technology’s payout ratio is 17.82%.

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.