Stifel Financial Corp Decreases Stake in Carpenter Technology Co. (NYSE:CRS)

Stifel Financial Corp lessened its position in shares of Carpenter Technology Co. (NYSE:CRS) by 20.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,273 shares of the basic materials company’s stock after selling 2,942 shares during the quarter. Stifel Financial Corp’s holdings in Carpenter Technology were worth $1,799,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dearborn Partners LLC purchased a new position in shares of Carpenter Technology in the 2nd quarter worth approximately $323,000. Legato Capital Management LLC acquired a new position in Carpenter Technology during the 2nd quarter valued at approximately $467,000. Burney Co. purchased a new stake in Carpenter Technology in the second quarter valued at approximately $211,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Carpenter Technology by 6.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,386 shares of the basic materials company’s stock worth $1,248,000 after buying an additional 679 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Carpenter Technology by 2,349.6% in the second quarter. Farther Finance Advisors LLC now owns 3,405 shares of the basic materials company’s stock worth $364,000 after acquiring an additional 3,266 shares during the period. Institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

CRS has been the topic of a number of recent research reports. Benchmark reissued a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology Trading Up 0.2 %

NYSE:CRS opened at $169.97 on Friday. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 37.86, a price-to-earnings-growth ratio of 0.90 and a beta of 1.52. The business’s 50-day simple moving average is $173.91 and its 200 day simple moving average is $145.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $198.24.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts predict that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio is presently 17.82%.

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.