Carpenter Technology Co. (NYSE:CRS) Stock Position Decreased by First Eagle Investment Management LLC

First Eagle Investment Management LLC trimmed its stake in Carpenter Technology Co. (NYSE:CRS) by 52.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,454 shares of the basic materials company’s stock after selling 54,000 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.10% of Carpenter Technology worth $8,393,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC purchased a new position in Carpenter Technology in the 4th quarter worth about $25,000. UMB Bank n.a. boosted its holdings in shares of Carpenter Technology by 169.0% in the fourth 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 period. Banque Cantonale Vaudoise purchased a new position in shares of Carpenter Technology in the third quarter worth approximately $65,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology during the third quarter valued at approximately $80,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology in the 3rd quarter valued at approximately $84,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Carpenter Technology Stock Up 4.2 %

Carpenter Technology stock opened at $183.76 on Friday. Carpenter Technology Co. has a twelve month low of $64.58 and a twelve month high of $213.66. 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 firm has a market cap of $9.18 billion, a PE ratio of 34.67, a P/E/G ratio of 0.93 and a beta of 1.55. The firm’s 50 day moving average price is $194.72 and its two-hundred day moving average price is $175.09.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders 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 dividend 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%.

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.