Vanguard Group Inc. Decreases Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Vanguard Group Inc. lessened its stake in Carpenter Technology Co. (NYSE:CRS) by 6.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,250,734 shares of the basic materials company’s stock after selling 361,710 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Carpenter Technology worth $891,102,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC acquired a new stake in shares of Carpenter Technology in the fourth quarter valued at about $25,000. UMB Bank n.a. boosted its holdings in Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after buying an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Carpenter Technology during the 3rd quarter worth approximately $80,000. Morse Asset Management Inc purchased a new stake in Carpenter Technology during the 3rd quarter worth approximately $84,000. Finally, Fifth Third Bancorp raised its holdings in shares of Carpenter Technology by 23.5% during the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 109 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Price Performance

NYSE:CRS opened at $181.32 on Friday. Carpenter Technology Co. has a one year low of $70.20 and a one year high of $213.66. The stock has a market cap of $9.06 billion, a PE ratio of 34.21, a P/E/G ratio of 0.93 and a beta of 1.55. 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 stock has a 50 day moving average price of $194.01 and a 200 day moving average price of $178.72.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Equities research analysts expect 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. Shareholders of record on Friday, February 28th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Wall Street Analyst Weigh In

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