Wells Fargo & Company MN reduced its position in shares of Carpenter Technology Co. (NYSE:CRS) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,931 shares of the basic materials company’s stock after selling 3,408 shares during the period. Wells Fargo & Company MN owned approximately 0.37% of Carpenter Technology worth $8,971,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in CRS. Granite Investment Partners LLC grew its holdings in Carpenter Technology by 69.1% during the fourth quarter. Granite Investment Partners LLC now owns 246,022 shares of the basic materials company’s stock worth $12,545,000 after acquiring an additional 100,524 shares during the period. Emerald Advisers Inc. PA grew its holdings in Carpenter Technology by 26.2% during the fourth quarter. Emerald Advisers Inc. PA now owns 477,978 shares of the basic materials company’s stock worth $24,372,000 after acquiring an additional 99,202 shares during the period. Bank of New York Mellon Corp grew its holdings in Carpenter Technology by 4.7% during the third quarter. Bank of New York Mellon Corp now owns 1,729,163 shares of the basic materials company’s stock worth $83,050,000 after acquiring an additional 77,824 shares during the period. Sei Investments Co. grew its holdings in Carpenter Technology by 5,651.0% during the third quarter. Sei Investments Co. now owns 63,203 shares of the basic materials company’s stock worth $3,035,000 after acquiring an additional 62,104 shares during the period. Finally, James Investment Research Inc. acquired a new position in Carpenter Technology during the fourth quarter worth about $2,990,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on CRS. Zacks Investment Research raised Carpenter Technology from a “sell” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Thursday, January 18th. Cowen reissued a “hold” rating and issued a $53.00 price target on shares of Carpenter Technology in a research note on Sunday, December 10th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $54.67.
Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.04. The firm had revenue of $487.80 million for the quarter, compared to analysts’ expectations of $482.20 million. Carpenter Technology had a return on equity of 7.94% and a net margin of 8.30%. Carpenter Technology’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. analysts expect that Carpenter Technology Co. will post 2.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Tuesday, February 6th were paid a $0.18 dividend. The ex-dividend date was Monday, February 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.64%. Carpenter Technology’s dividend payout ratio is currently 21.24%.
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Carpenter Technology Profile
Carpenter Technology Corporation is engaged in the manufacturing, fabrication and distribution of specialty metals. The Company’s segments include Specialty Alloys Operations (SAO) and Performance Engineered Products (PEP). Its SAO segment consists of alloy and stainless steel manufacturing operations.
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