Carpenter Technology Co. (NYSE:CRS) Holdings Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in Carpenter Technology Co. (NYSE:CRS) by 93.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,909 shares of the basic materials company’s stock after selling 199,482 shares during the period. Assenagon Asset Management S.A.’s holdings in Carpenter Technology were worth $2,360,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kimelman & Baird LLC acquired a new stake in Carpenter Technology in the second quarter worth approximately $33,000. EverSource Wealth Advisors LLC raised its stake in shares of Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after buying an additional 178 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Carpenter Technology in the third quarter valued at $64,000. Banque Cantonale Vaudoise bought a new position in Carpenter Technology during the third quarter valued at about $65,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Carpenter Technology during the third quarter worth about $80,000. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price target for the company. Benchmark reissued a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.00.

Carpenter Technology Trading Down 1.8 %

NYSE:CRS opened at $207.37 on Thursday. The stock has a fifty day simple moving average of $184.60 and a 200 day simple moving average of $159.44. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 46.18, a price-to-earnings-growth ratio of 0.98 and a beta of 1.55. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $213.40.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping the consensus estimate 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 net margin of 8.05% and a return on equity of 18.01%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. Sell-side analysts forecast that Carpenter Technology Co. will post 6.77 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s payout ratio is 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.