Emerald Advisers LLC Reduces Stock Position in Carpenter Technology Co. (NYSE:CRS)

Emerald Advisers LLC lowered its position in shares of Carpenter Technology Co. (NYSE:CRS) by 41.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,863 shares of the basic materials company’s stock after selling 154,143 shares during the period. Carpenter Technology comprises about 1.4% of Emerald Advisers LLC’s investment portfolio, making the stock its 14th biggest holding. Emerald Advisers LLC owned approximately 0.43% of Carpenter Technology worth $36,634,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in Carpenter Technology by 91.9% during the 3rd quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock valued at $3,364,000 after buying an additional 10,094 shares during the period. Fisher Asset Management LLC raised its holdings in Carpenter Technology by 3.9% in the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after purchasing an additional 13,815 shares in the last quarter. Forest Avenue Capital Management LP bought a new position in Carpenter Technology in the 3rd quarter worth $25,262,000. Natixis Advisors LLC increased its stake in shares of Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock worth $3,801,000 after acquiring an additional 1,343 shares in the last quarter. Finally, Manuka Financial LLC bought a new position in shares of Carpenter Technology in the 4th quarter worth about $368,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $183.75 on Friday. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 0.93 and a beta of 1.55. The firm’s fifty day moving average is $194.95 and its 200 day moving average is $177.12. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 52-week low of $67.52 and a 52-week high of $213.66.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is currently 15.09%.

Analyst Ratings Changes

A number of analysts have weighed in on CRS shares. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $167.17.

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.