First Trust Advisors LP reduced its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,045 shares of the basic materials company’s stock after selling 1,590 shares during the quarter. First Trust Advisors LP’s holdings in Carpenter Technology were worth $2,922,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of CRS. Flagship Harbor Advisors LLC purchased a new stake in shares of Carpenter Technology in the fourth quarter valued at about $25,000. Captrust Financial Advisors lifted its holdings in shares of Carpenter Technology by 476.1% in the third quarter. Captrust Financial Advisors now owns 2,656 shares of the basic materials company’s stock valued at $157,000 after purchasing an additional 2,195 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Carpenter Technology in the fourth quarter valued at about $167,000. Quantamental Technologies LLC purchased a new stake in shares of Carpenter Technology in the fourth quarter valued at about $178,000. Finally, D.A. Davidson & CO. purchased a new stake in shares of Carpenter Technology in the third quarter valued at about $223,000. Institutional investors own 93.49% of the company’s stock.
Shares of NYSE CRS opened at $44.96 on Friday. The company has a current ratio of 2.53, a quick ratio of 0.84 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 17.98 and a beta of 2.41. Carpenter Technology Co. has a 12-month low of $32.77 and a 12-month high of $61.49.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 5th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Monday, February 4th. Carpenter Technology’s payout ratio is 32.00%.
Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Carpenter Technology from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Cowen reaffirmed a “buy” rating and issued a $53.00 price target on shares of Carpenter Technology in a report on Thursday, January 31st. ValuEngine raised shares of Carpenter Technology from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. Finally, Longbow Research raised shares of Carpenter Technology from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $56.00.
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Carpenter Technology Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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