Commonwealth Equity Services LLC Sells 221 Shares of Carpenter Technology Co. (NYSE:CRS)

Commonwealth Equity Services LLC lowered its position in shares of Carpenter Technology Co. (NYSE:CRS) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,531 shares of the basic materials company’s stock after selling 221 shares during the period. Commonwealth Equity Services LLC’s holdings in Carpenter Technology were worth $1,154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRS. Janney Montgomery Scott LLC raised its position in Carpenter Technology by 91.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 25,408 shares of the basic materials company’s stock worth $1,799,000 after purchasing an additional 12,129 shares during the period. Harvest Investment Services LLC purchased a new stake in Carpenter Technology during the 4th quarter valued at about $826,000. First Eagle Investment Management LLC grew its position in Carpenter Technology by 13.2% during the 1st quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock worth $10,667,000 after acquiring an additional 17,400 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Carpenter Technology in the 1st quarter worth approximately $4,199,000. Finally, Comerica Bank lifted its position in Carpenter Technology by 170.3% in the first 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. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRS shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price objective on the stock. Benchmark increased their price objective on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Northcoast Research reissued a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a research note on Friday, June 14th. BTIG Research raised their price target on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, TD Cowen boosted their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Trading Down 0.8 %

Shares of NYSE:CRS opened at $141.34 on Tuesday. The stock’s 50-day simple moving average is $133.83 and its two-hundred day simple moving average is $105.37. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 53.74, a PEG ratio of 0.77 and a beta of 1.45. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $148.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41.

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

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.80 annualized dividend and a yield of 0.57%. Carpenter Technology’s payout ratio is 30.42%.

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.