Great Valley Advisor Group Inc. Has $218,000 Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Great Valley Advisor Group Inc. reduced its stake in Carpenter Technology Co. (NYSE:CRS) by 42.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,368 shares of the basic materials company’s stock after selling 1,000 shares during the period. Great Valley Advisor Group Inc.’s holdings in Carpenter Technology were worth $218,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Comerica Bank grew its holdings in Carpenter Technology by 170.3% in the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock valued at $4,812,000 after buying an additional 42,449 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of Carpenter Technology in the second quarter valued at about $1,208,000. Natixis Advisors LLC increased its position in Carpenter Technology by 6.0% during the third 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 during the period. Lighthouse Investment Partners LLC acquired a new stake in Carpenter Technology in the 2nd quarter worth about $1,460,000. Finally, Intech Investment Management LLC bought a new stake in Carpenter Technology in the 2nd quarter valued at about $552,000. 92.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price for the company. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.00.

Carpenter Technology Trading Down 0.9 %

Shares of CRS opened at $194.46 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $198.24. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 0.99 and a beta of 1.46. The business’s fifty day moving average is $165.95 and its 200-day moving average is $137.50.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Carpenter Technology Co. will post 6.61 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Carpenter Technology’s payout ratio is presently 17.82%.

Carpenter Technology Company 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.