Financial Engines Advisors L.L.C. Trims Stock Position in Carpenter Technology Co. (NYSE:CRS)

Financial Engines Advisors L.L.C. cut its holdings in Carpenter Technology Co. (NYSE:CRS) by 15.3% during the 4th quarter, Holdings Channel reports. The firm owned 11,657 shares of the basic materials company’s stock after selling 2,113 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Carpenter Technology were worth $1,978,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRS. Tidal Investments LLC lifted its holdings in Carpenter Technology by 91.9% in the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock valued at $3,364,000 after purchasing an additional 10,094 shares in the last quarter. Forest Avenue Capital Management LP purchased a new position in shares of Carpenter Technology during the third quarter valued at approximately $25,262,000. Manuka Financial LLC acquired a new stake in Carpenter Technology during the fourth quarter worth approximately $368,000. Park Avenue Securities LLC purchased a new stake in Carpenter Technology in the 4th quarter worth approximately $419,000. Finally, Avala Global LP raised its holdings in Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock valued at $67,614,000 after acquiring an additional 73,400 shares during the last quarter. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $189.40 on Thursday. The business’s fifty day moving average price is $194.81 and its 200 day moving average price is $178.36. Carpenter Technology Co. has a twelve month low of $68.77 and a twelve month high of $213.66. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $9.46 billion, a P/E ratio of 35.73, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.42%. Carpenter Technology’s dividend payout ratio is currently 15.09%.

Analyst Upgrades and Downgrades

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

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.