Vontobel Holding Ltd. Cuts Position in Carpenter Technology Co. (NYSE:CRS)

Vontobel Holding Ltd. lessened its holdings in Carpenter Technology Co. (NYSE:CRS) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,819 shares of the basic materials company’s stock after selling 86 shares during the period. Vontobel Holding Ltd.’s holdings in Carpenter Technology were worth $769,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. acquired a new position in Carpenter Technology in the first quarter valued at approximately $30,000. Kimelman & Baird LLC purchased a new position in Carpenter Technology in the second quarter valued at approximately $33,000. National Bank of Canada FI purchased a new position in Carpenter Technology in the second quarter valued at approximately $49,000. EverSource Wealth Advisors LLC increased its stake in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 178 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Carpenter Technology by 469.2% in the first 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 period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Benchmark increased their price objective on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Carpenter Technology in a research note on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price target on the stock. Finally, BTIG Research lifted their price objective on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $158.52 on Monday. The stock’s 50 day moving average price is $148.92 and its 200 day moving average price is $120.76. The firm has a market capitalization of $7.86 billion, a PE ratio of 60.27, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. 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 Co. has a one year low of $58.87 and a one year high of $166.51.

Carpenter Technology (NYSE:CRS) last posted 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. 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 EPS. Carpenter Technology’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Carpenter Technology Co. will post 6.63 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. 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 0.50%. Carpenter Technology’s dividend payout ratio (DPR) is 30.42%.

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.