Carpenter Technology Co. (NYSE:CRS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 26.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,612 shares of the basic materials company’s stock after selling 7,031 shares during the period. Envestnet Asset Management Inc.’s holdings in Carpenter Technology were worth $2,149,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CRS. Whittier Trust Co. purchased a new stake in shares of Carpenter Technology during the first quarter worth about $30,000. National Bank of Canada FI purchased a new stake in Carpenter Technology in the 2nd quarter worth approximately $49,000. Westend Capital Management LLC acquired a new position in Carpenter Technology in the 1st quarter valued at $36,000. Covestor Ltd raised its holdings in Carpenter Technology by 469.2% in the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 685 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Carpenter Technology by 12.6% during the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Up 3.8 %

CRS opened at $159.89 on Friday. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $166.51. The firm has a 50 day moving average price of $144.77 and a 200 day moving average price of $114.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The company has a market cap of $7.93 billion, a PE ratio of 60.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.45.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.31. The company had revenue of $798.70 million during the quarter, compared to analyst estimates of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. Sell-side analysts expect that Carpenter Technology Co. will post 6.09 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 27th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio is presently 30.42%.

Wall Street Analysts Forecast Growth

CRS has been the subject of several analyst reports. Benchmark upped their target price on Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 26th. TD Cowen upped their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BTIG Research raised their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target for the company. Finally, Northcoast Research reiterated a “sell” rating and issued a $89.00 price target on shares of Carpenter Technology in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, Carpenter Technology presently 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.