US Bancorp DE Decreases Holdings in Carpenter Technology Co. (NYSE:CRS)

US Bancorp DE lowered its stake in Carpenter Technology Co. (NYSE:CRS) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,645 shares of the basic materials company’s stock after selling 456 shares during the period. US Bancorp DE’s holdings in Carpenter Technology were worth $901,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Carpenter Technology by 12.6% during the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after buying an additional 103 shares during the last quarter. GAMMA Investing LLC grew its position in Carpenter Technology by 9.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $177,000 after acquiring an additional 136 shares during the last quarter. 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 worth $53,000 after purchasing an additional 178 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of Carpenter Technology by 8.9% during the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 180 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Carpenter Technology by 3.8% during the third quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company’s stock valued at $846,000 after purchasing an additional 196 shares during the period. 92.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRS. Benchmark reissued a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. BTIG Research raised their price objective on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Stock Up 1.4 %

Shares of CRS opened at $177.16 on Friday. The firm has a market cap of $8.83 billion, a P/E ratio of 39.46, a PEG ratio of 0.90 and a beta of 1.46. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $179.18. The stock’s 50 day moving average is $154.37 and its two-hundred day moving average is $129.49. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42.

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, topping the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. Carpenter Technology’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. Analysts predict that Carpenter Technology Co. will post 6.68 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio is presently 17.82%.

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.