Carpenter Technology Co. (NYSE:CRS) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 10.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 5,104 shares of the basic materials company’s stock after selling 621 shares during the period. Private Advisor Group LLC’s holdings in Carpenter Technology were worth $559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. purchased a new stake in shares of Carpenter Technology during the fourth quarter worth $29,000. Whittier Trust Co. purchased a new stake in Carpenter Technology during the 1st quarter worth about $30,000. Johnson Financial Group Inc. acquired a new stake in Carpenter Technology in the 4th quarter valued at about $31,000. Westend Capital Management LLC purchased a new position in shares of Carpenter Technology in the 1st quarter valued at about $36,000. Finally, National Bank of Canada FI acquired a new position in shares of Carpenter Technology during the second quarter worth about $49,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Up 2.6 %

CRS opened at $146.98 on Thursday. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $151.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The stock has a market capitalization of $7.29 billion, a P/E ratio of 55.89, a price-to-earnings-growth ratio of 0.77 and a beta of 1.45. The business’s 50-day simple moving average is $135.25 and its 200-day simple moving average is $106.45.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm had revenue of $798.70 million for the quarter, compared to the consensus estimate of $763.76 million. During the same quarter last year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts anticipate that Carpenter Technology Co. will post 6.06 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.80 annualized dividend and a yield of 0.54%. Carpenter Technology’s dividend payout ratio (DPR) is 30.42%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CRS shares. Benchmark raised their target price on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 26th. BTIG Research lifted their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 target price on the stock. Northcoast Research reaffirmed a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a report on Friday, June 14th. Finally, TD Cowen increased their price objective on Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.