Carpenter Technology Co. (NYSE:CRS) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its position in Carpenter Technology Co. (NYSE:CRS) by 36.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,350 shares of the basic materials company’s stock after selling 59,540 shares during the quarter. Royce & Associates LP’s holdings in Carpenter Technology were worth $16,812,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc acquired a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $230,000. OneDigital Investment Advisors LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $293,000. Curi RMB Capital LLC grew its position in shares of Carpenter Technology by 0.4% in the 3rd quarter. Curi RMB Capital LLC now owns 149,929 shares of the basic materials company’s stock worth $23,926,000 after acquiring an additional 619 shares in the last quarter. KBC Group NV grew its position in shares of Carpenter Technology by 13.5% in the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock worth $216,000 after acquiring an additional 161 shares in the last quarter. Finally, Main Street Financial Solutions LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $225,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Up 2.0 %

Shares of NYSE CRS opened at $175.44 on Friday. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $182.52. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $158.32 and its 200 day simple moving average is $132.41.

Carpenter Technology (NYSE:CRS) last announced its 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 firm had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Equities research analysts expect that Carpenter Technology Co. will post 6.68 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s payout ratio is currently 17.82%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CRS shares. BTIG Research lifted their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Benchmark reissued a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

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.