Emerald Mutual Fund Advisers Trust Sells 58,026 Shares of Carpenter Technology Co. (NYSE:CRS)

Emerald Mutual Fund Advisers Trust lessened its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,571 shares of the basic materials company’s stock after selling 58,026 shares during the period. Carpenter Technology accounts for approximately 2.4% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 3rd biggest position. Emerald Mutual Fund Advisers Trust’s holdings in Carpenter Technology were worth $46,634,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in shares of Carpenter Technology by 91.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 25,408 shares of the basic materials company’s stock valued at $1,799,000 after purchasing an additional 12,129 shares in the last quarter. Harvest Investment Services LLC acquired a new stake in shares of Carpenter Technology in the 4th quarter worth $826,000. First Eagle Investment Management LLC raised its holdings in shares of Carpenter Technology by 13.2% during the 1st quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock worth $10,667,000 after acquiring an additional 17,400 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Carpenter Technology during the 1st quarter worth $4,199,000. Finally, Comerica Bank boosted its position in shares of Carpenter Technology by 170.3% during the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock valued at $4,812,000 after acquiring an additional 42,449 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $132.16 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The firm has a market cap of $6.56 billion, a P/E ratio of 50.25, a P/E/G ratio of 0.82 and a beta of 1.45. The firm’s 50 day moving average price is $130.64 and its 200-day moving average price is $102.52. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $148.94.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The company had revenue of $798.70 million for the quarter, compared to analysts’ expectations of $763.76 million. During the same period in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Carpenter Technology Co. will post 6.06 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio (DPR) is 30.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CRS. BTIG Research raised their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Benchmark raised their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Northcoast Research reiterated a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a report on Friday, June 14th. TD Cowen raised their target price on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $139.60.

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.