Mutual of America Capital Management LLC Sells 641 Shares of Carpenter Technology Co. (NYSE:CRS)

Mutual of America Capital Management LLC cut its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,513 shares of the basic materials company’s stock after selling 641 shares during the period. Mutual of America Capital Management LLC’s holdings in Carpenter Technology were worth $1,199,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co lifted its position in shares of Carpenter Technology by 17.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,698 shares of the basic materials company’s stock worth $3,551,000 after buying an additional 7,562 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Carpenter Technology by 26.8% in the 1st quarter. Advisors Asset Management Inc. now owns 21,015 shares of the basic materials company’s stock valued at $1,501,000 after purchasing an additional 4,438 shares in the last quarter. Comerica Bank grew its holdings in shares of Carpenter Technology by 170.3% during the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock valued at $4,812,000 after purchasing an additional 42,449 shares during the last quarter. Bright Futures Wealth Management LLC. acquired a new position in Carpenter Technology during the 1st quarter worth approximately $202,000. Finally, GAMMA Investing LLC lifted its stake in Carpenter Technology by 9.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $177,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE CRS opened at $195.23 on Tuesday. The company has a market capitalization of $9.73 billion, a price-to-earnings ratio of 43.48, a PEG ratio of 0.97 and a beta of 1.46. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $197.68. The stock has a fifty day simple moving average of $163.94 and a 200 day simple moving average of $136.46.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million during 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%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Sell-side analysts expect that Carpenter Technology Co. will post 6.61 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.41%. Carpenter Technology’s payout ratio is 17.82%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research upped their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a research report on Friday. They issued an “overweight” rating and a $220.00 target price for the company. 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.com, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $153.00.

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.