Wrapmanager Inc. Sells 805 Shares of Carpenter Technology Co. (NYSE:CRS)

Wrapmanager Inc. reduced its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 38.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,304 shares of the basic materials company’s stock after selling 805 shares during the quarter. Wrapmanager Inc.’s holdings in Carpenter Technology were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CRS. Kimelman & Baird LLC acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at approximately $33,000. National Bank of Canada FI bought a new position in shares of Carpenter Technology in the 2nd quarter valued at $49,000. EverSource Wealth Advisors LLC grew its position in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 178 shares during the last quarter. Covestor Ltd raised its stake in Carpenter Technology by 469.2% during the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 685 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in Carpenter Technology during the 3rd quarter worth approximately $64,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of CRS opened at $184.68 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $184.85. The business has a 50-day moving average of $160.15 and a 200-day moving average of $134.11. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 41.13, a price-to-earnings-growth ratio of 0.88 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. Carpenter Technology’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts anticipate that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Wall Street Analysts Forecast Growth

CRS has been the subject of a number of research reports. BTIG Research increased their price target on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $139.60.

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.