Veracity Capital LLC Sells 2,354 Shares of Carpenter Technology Co. (NYSE:CRS)

Veracity Capital LLC lowered its holdings in Carpenter Technology Co. (NYSE:CRS) by 27.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,100 shares of the basic materials company’s stock after selling 2,354 shares during the quarter. Veracity Capital LLC’s holdings in Carpenter Technology were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRS. Inspire Investing LLC purchased a new stake in Carpenter Technology in the fourth quarter worth approximately $822,000. Wesbanco Bank Inc. lifted its holdings in shares of Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock valued at $1,663,000 after buying an additional 115 shares during the period. SG Americas Securities LLC grew its holdings in shares of Carpenter Technology by 161.7% in the fourth quarter. SG Americas Securities LLC now owns 9,686 shares of the basic materials company’s stock worth $1,644,000 after acquiring an additional 5,985 shares during the period. XML Financial LLC increased its position in Carpenter Technology by 215.3% during the fourth quarter. XML Financial LLC now owns 9,460 shares of the basic materials company’s stock valued at $1,605,000 after acquiring an additional 6,460 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Carpenter Technology by 6.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 12,716 shares of the basic materials company’s stock valued at $2,158,000 after acquiring an additional 748 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Trading Up 2.6 %

Shares of Carpenter Technology stock opened at $212.70 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The company has a fifty day moving average of $185.41 and a 200 day moving average of $159.81. The company has a market capitalization of $10.60 billion, a P/E ratio of 47.37, a P/E/G ratio of 1.00 and a beta of 1.55. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $213.65.

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, beating the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts anticipate that Carpenter Technology Co. will post 6.77 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s payout ratio is 17.82%.

Wall Street Analysts Forecast Growth

CRS has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target for the company. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $153.00.

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.