Advisors Asset Management Inc. Sells 9,674 Shares of Carpenter Technology Co. (NYSE:CRS)

Advisors Asset Management Inc. decreased its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 37.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,939 shares of the basic materials company’s stock after selling 9,674 shares during the period. Advisors Asset Management Inc.’s holdings in Carpenter Technology were worth $2,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC raised its position in Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after purchasing an additional 1,108,963 shares during the last quarter. Geode Capital Management LLC raised its position in Carpenter Technology by 1.6% during 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 last quarter. Charles Schwab Investment Management Inc. raised its position in Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after purchasing an additional 103,559 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Carpenter Technology by 428.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock worth $103,714,000 after acquiring an additional 479,985 shares during the period. Finally, Avala Global LP grew its holdings in shares of Carpenter Technology by 21.0% during the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after acquiring an additional 73,400 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $183.75 on Friday. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $9.18 billion, a P/E ratio of 34.67, a PEG ratio of 0.93 and a beta of 1.55. The stock’s 50 day moving average is $194.95 and its 200 day moving average is $176.83. Carpenter Technology Co. has a twelve month low of $67.52 and a twelve month high of $213.66.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping 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, equities research 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 declared a quarterly dividend, which was paid on Thursday, March 6th. Investors 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 dividend yield of 0.44%. Carpenter Technology’s payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

CRS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. BTIG Research set a $230.00 target price on Carpenter Technology in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and a consensus price target of $167.17.

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.