Vontobel Holding Ltd. Decreases Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Vontobel Holding Ltd. cut its stake in Carpenter Technology Co. (NYSE:CRS) by 55.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,124 shares of the basic materials company’s stock after selling 2,695 shares during the period. Vontobel Holding Ltd.’s holdings in Carpenter Technology were worth $360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its position in Carpenter Technology by 47.1% during the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after buying 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. Charles Schwab Investment Management Inc. raised its holdings in shares of Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after acquiring an additional 103,559 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Carpenter Technology by 428.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock valued at $103,714,000 after buying an additional 479,985 shares during the period. Finally, Avala Global LP grew its position in Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock valued at $67,614,000 after acquiring an additional 73,400 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $208.19 on Friday. The firm has a market cap of $10.40 billion, a P/E ratio of 39.28, a PEG ratio of 0.96 and a beta of 1.54. The stock’s 50-day moving average is $188.45 and its two-hundred day moving average is $169.70. Carpenter Technology Co. has a fifty-two week low of $62.99 and a fifty-two week high of $213.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92.

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

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.38%. Carpenter Technology’s dividend payout ratio (DPR) is currently 15.09%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CRS shares. JPMorgan Chase & Co. upped their price target on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday. Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.33.

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.