Mutual of America Capital Management LLC Sells 641 Shares of Carpenter Technology Co. (NYSE:CRS)

Mutual of America Capital Management LLC lessened its position in Carpenter Technology Co. (NYSE:CRS) by 7.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,513 shares of the basic materials company’s stock after selling 641 shares during the period. Mutual of America Capital Management LLC’s holdings in Carpenter Technology were worth $1,199,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRS. American Century Companies Inc. lifted its stake in Carpenter Technology by 129.5% in the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after purchasing an additional 479,047 shares during the last quarter. Wolf Hill Capital Management LP acquired a new stake in shares of Carpenter Technology in the second quarter valued at approximately $73,850,000. Assenagon Asset Management S.A. lifted its position in shares of Carpenter Technology by 1,538.1% in the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after buying an additional 200,364 shares during the last quarter. Curi RMB Capital LLC increased its holdings in shares of Carpenter Technology by 0.4% during the 3rd quarter. Curi RMB Capital LLC now owns 149,929 shares of the basic materials company’s stock worth $23,926,000 after acquiring an additional 619 shares during the last quarter. Finally, Rubric Capital Management LP increased its holdings in shares of Carpenter Technology by 77.7% during the 2nd quarter. Rubric Capital Management LP now owns 139,806 shares of the basic materials company’s stock worth $15,320,000 after acquiring an additional 61,145 shares during the last quarter. Institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a research report on Friday. They set an “overweight” rating and a $220.00 price objective for the company. BTIG Research increased their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Benchmark restated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and an average target price of $153.00.

Carpenter Technology Stock Performance

Shares of NYSE:CRS opened at $195.23 on Tuesday. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $197.68. The company’s 50 day moving average price is $163.94 and its two-hundred day moving average price is $136.46. The firm has a market cap of $9.73 billion, a PE ratio of 43.48, a PEG ratio of 0.97 and a beta of 1.46. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. Equities research analysts predict that Carpenter Technology Co. will post 6.61 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) 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.