Dearborn Partners LLC Has $407,000 Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Dearborn Partners LLC decreased its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,550 shares of the basic materials company’s stock after selling 400 shares during the period. Dearborn Partners LLC’s holdings in Carpenter Technology were worth $407,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Wolf Hill Capital Management LP acquired a new stake in shares of Carpenter Technology during the second quarter worth $73,850,000. Bayberry Capital Partners LP bought a new position in Carpenter Technology during the first quarter worth about $35,887,000. American Century Companies Inc. grew its position in shares of Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after buying an additional 479,047 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Carpenter Technology by 1,538.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after acquiring an additional 200,364 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $13,248,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS opened at $175.44 on Friday. The firm has a market cap of $8.75 billion, a P/E ratio of 39.07, a PEG ratio of 0.89 and a beta of 1.46. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $182.52. 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 firm’s 50 day moving average price is $158.32 and its two-hundred day moving average price is $132.41.

Carpenter Technology (NYSE:CRS) last posted 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. The business had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. On average, analysts forecast that Carpenter Technology Co. will post 6.68 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors 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 dividend on an annualized basis and a dividend yield of 0.46%. Carpenter Technology’s payout ratio is presently 17.82%.

Wall Street Analyst Weigh In

CRS has been the subject of several recent analyst reports. BTIG Research upped their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark restated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Carpenter Technology has an average 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.