Virtus Fund Advisers LLC trimmed its stake in Carpenter Technology Co. (NYSE:CRS) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 452,656 shares of the basic materials company’s stock after selling 17,835 shares during the quarter. Virtus Fund Advisers LLC’s holdings in Carpenter Technology were worth $23,081,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRS. New York State Common Retirement Fund raised its position in shares of Carpenter Technology by 4.7% in the 2nd quarter. New York State Common Retirement Fund now owns 51,000 shares of the basic materials company’s stock worth $1,909,000 after acquiring an additional 2,299 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Carpenter Technology by 0.8% in the 2nd quarter. Macquarie Group Ltd. now owns 40,881 shares of the basic materials company’s stock worth $1,530,000 after acquiring an additional 311 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Carpenter Technology by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 103,256 shares of the basic materials company’s stock worth $3,864,000 after buying an additional 1,317 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Carpenter Technology by 10.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,634 shares of the basic materials company’s stock worth $286,000 after buying an additional 702 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Carpenter Technology by 7.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,614 shares of the basic materials company’s stock worth $210,000 after buying an additional 370 shares during the last quarter. 95.92% of the stock is owned by hedge funds and other institutional investors.
Carpenter Technology Co. (CRS) opened at $52.34 on Tuesday. Carpenter Technology Co. has a one year low of $34.24 and a one year high of $54.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 2.99. The firm has a market capitalization of $2,455.60, a price-to-earnings ratio of 15.44 and a beta of 2.05.
Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.04. Carpenter Technology had a return on equity of 7.94% and a net margin of 8.30%. The firm had revenue of $487.80 million for the quarter, compared to the consensus estimate of $482.20 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. analysts predict that Carpenter Technology Co. will post 2.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, February 6th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, February 5th. This represents a $0.72 annualized dividend and a yield of 1.38%. Carpenter Technology’s payout ratio is presently 21.24%.
CRS has been the topic of several research analyst reports. KeyCorp restated a “hold” rating on shares of Carpenter Technology in a research note on Thursday, November 16th. Cowen restated a “hold” rating and set a $53.00 target price on shares of Carpenter Technology in a research note on Sunday, December 10th. Finally, Zacks Investment Research downgraded Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.25.
In other Carpenter Technology news, COO Joseph E. Haniford sold 11,448 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $49.09, for a total transaction of $561,982.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.51% of the stock is currently owned by insiders.
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Carpenter Technology Profile
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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