L & S Advisors Inc Lowers Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

L & S Advisors Inc cut its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 13.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,944 shares of the basic materials company’s stock after selling 1,441 shares during the quarter. L & S Advisors Inc’s holdings in Carpenter Technology were worth $1,518,000 as of its most recent filing with the Securities and Exchange Commission.

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

Carpenter Technology Trading Down 2.4 %

Shares of CRS opened at $181.32 on Friday. Carpenter Technology Co. has a 12 month low of $70.20 and a 12 month high of $213.66. The stock’s 50-day moving average is $194.01 and its two-hundred day moving average is $179.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. 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.

Carpenter Technology (NYSE:CRS) last released 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 return on equity of 19.88% and a net margin of 9.34%. Equities analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were issued 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 was Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

Analyst Upgrades and Downgrades

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