Carpenter Technology Co. (NYSE:CRS) Shares Sold by Arvin Capital Management LP

Arvin Capital Management LP lessened its stake in Carpenter Technology Co. (NYSE:CRS) by 17.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,410 shares of the basic materials company’s stock after selling 22,439 shares during the quarter. Carpenter Technology makes up 5.5% of Arvin Capital Management LP’s holdings, making the stock its 7th biggest position. Arvin Capital Management LP’s holdings in Carpenter Technology were worth $16,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CRS. FMR LLC increased 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 period. Wolf Hill Capital Management LP acquired a new stake in Carpenter Technology in the second quarter valued at about $73,850,000. American Century Companies Inc. boosted its stake in shares of Carpenter Technology by 129.5% during the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after purchasing an additional 479,047 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Carpenter Technology by 1,538.1% during the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after purchasing an additional 200,364 shares in the last quarter. Finally, Forest Avenue Capital Management LP acquired a new stake in shares of Carpenter Technology during the third quarter valued at about $25,262,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Down 0.2 %

NYSE CRS opened at $194.04 on Monday. The firm has a market capitalization of $9.67 billion, a P/E ratio of 43.22, a PEG ratio of 0.97 and a beta of 1.46. The business has a fifty day simple moving average of $167.49 and a 200 day simple moving average of $138.76. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $198.24. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42.

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

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Carpenter Technology’s payout ratio is 17.82%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price for the company. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.