Premier Fund Managers Ltd Reduces Position in Carpenter Technology Co. (NYSE:CRS)

Premier Fund Managers Ltd reduced its position in shares of Carpenter Technology Co. (NYSE:CRS) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,840 shares of the basic materials company’s stock after selling 1,027 shares during the period. Premier Fund Managers Ltd’s holdings in Carpenter Technology were worth $1,311,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CRS. Kestra Investment Management LLC acquired a new position in shares of Carpenter Technology during the 4th quarter worth about $25,000. UMB Bank n.a. boosted its holdings in Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Carpenter Technology in the third quarter valued at approximately $80,000. Morse Asset Management Inc acquired a new stake in Carpenter Technology during the third quarter worth approximately $84,000. Finally, Fifth Third Bancorp boosted its holdings 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 valued at $97,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CRS has been the topic of several research analyst reports. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Trading Down 1.6 %

Shares of Carpenter Technology stock opened at $186.00 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The company has a market capitalization of $9.29 billion, a P/E ratio of 35.09, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 1 year low of $69.90 and a 1 year high of $213.66. The company’s fifty day moving average is $194.52 and its two-hundred day moving average is $178.42.

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

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Carpenter Technology’s dividend payout ratio (DPR) is 15.09%.

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.