Versant Capital Management Inc Decreases Stake in Carpenter Technology Co. (NYSE:CRS)

Versant Capital Management Inc lessened its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 24.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 282 shares of the basic materials company’s stock after selling 92 shares during the period. Versant Capital Management Inc’s holdings in Carpenter Technology were worth $48,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. FMR LLC increased its holdings in shares of Carpenter Technology by 47.1% in the third quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after purchasing an additional 1,108,963 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Carpenter Technology by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after acquiring an additional 17,497 shares during the period. American Century Companies Inc. boosted its position in shares of Carpenter Technology by 129.5% during 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 acquiring an additional 479,047 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after purchasing an additional 103,559 shares during the period. Finally, Wolf Hill Capital Management LP acquired a new stake in Carpenter Technology during the second quarter worth about $73,850,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

NYSE:CRS opened at $184.57 on Tuesday. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $198.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The company has a 50 day moving average price of $177.60 and a 200 day moving average price of $152.10. The stock has a market capitalization of $9.20 billion, a P/E ratio of 41.11, a PEG ratio of 0.90 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results 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 business 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%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the business posted $0.88 earnings per share. Equities research analysts forecast that Carpenter Technology Co. will post 6.74 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Carpenter Technology’s dividend payout ratio is presently 17.82%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.00.

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.