Advisors Asset Management Inc. Cuts Holdings in Carpenter Technology Co. (NYSE:CRS)

Advisors Asset Management Inc. trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 37.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,939 shares of the basic materials company’s stock after selling 9,674 shares during the quarter. Advisors Asset Management Inc.’s holdings in Carpenter Technology were worth $2,705,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Stratos Wealth Partners LTD. boosted its stake in Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock valued at $410,000 after purchasing an additional 63 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $114,000 after buying an additional 71 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Carpenter Technology by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after buying an additional 78 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after buying an additional 109 shares during the period. Finally, Wesbanco Bank Inc. lifted its holdings in shares of Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock valued at $1,663,000 after buying an additional 115 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $183.75 on Friday. Carpenter Technology Co. has a one year low of $67.52 and a one year high of $213.66. The stock’s fifty day moving average is $194.95 and its 200 day moving average is $176.83. The stock has a market cap of $9.18 billion, a P/E ratio of 34.67, 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.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 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%. Sell-side analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Carpenter Technology’s payout ratio is presently 15.09%.

Analysts Set New Price Targets

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

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.