Van ECK Associates Corp Sells 5,737 Shares of Carpenter Technology Co. (NYSE:CRS)

Van ECK Associates Corp lowered its position in shares of Carpenter Technology Co. (NYSE:CRS) by 22.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,129 shares of the basic materials company’s stock after selling 5,737 shares during the period. Van ECK Associates Corp’s holdings in Carpenter Technology were worth $3,416,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CRS. Stratos Wealth Partners LTD. grew its stake in shares of Carpenter Technology by 2.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after purchasing an additional 63 shares during the last quarter. Strengthening Families & Communities LLC lifted its holdings in Carpenter Technology by 0.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock worth $2,763,000 after buying an additional 100 shares during the period. Fifth Third Bancorp grew its position in shares of Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock worth $97,000 after buying an additional 109 shares during the last quarter. Wesbanco Bank Inc. increased its stake in shares of Carpenter Technology by 1.2% during the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock valued at $1,663,000 after buying an additional 115 shares during the period. Finally, Burney Co. raised its holdings in shares of Carpenter Technology by 6.2% during the fourth quarter. Burney Co. now owns 2,045 shares of the basic materials company’s stock valued at $347,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $209.92 on Thursday. The company’s fifty day moving average price is $187.83 and its 200-day moving average price is $169.44. The stock has a market cap of $10.49 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 0.88 and a beta of 1.54. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 12 month low of $62.99 and a 12 month high of $213.65.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, equities analysts expect that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CRS shares. Benchmark reiterated a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $156.33.

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.