Carpenter Technology Co. (NYSE:CRS) Shares Sold by Veracity Capital LLC

Veracity Capital LLC cut its stake in Carpenter Technology Co. (NYSE:CRS) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,454 shares of the basic materials company’s stock after selling 565 shares during the period. Veracity Capital LLC’s holdings in Carpenter Technology were worth $1,349,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Carpenter Technology by 12.6% during the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 103 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Carpenter Technology by 9.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $177,000 after buying an additional 136 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after buying an additional 178 shares during the period. American International Group Inc. grew its position in shares of Carpenter Technology by 0.7% during the 4th quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock valued at $1,887,000 after buying an additional 188 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Carpenter Technology by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock worth $825,000 after acquiring an additional 215 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CRS. Deutsche Bank Aktiengesellschaft initiated coverage on Carpenter Technology in a report on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price for the company. BTIG Research raised their target price on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Benchmark upped their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.60.

Carpenter Technology Trading Down 0.7 %

NYSE:CRS opened at $158.52 on Friday. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 60.27, a PEG ratio of 0.83 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $166.51. The business has a fifty day moving average of $148.92 and a 200-day moving average of $120.76.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The firm had revenue of $798.70 million during the quarter, compared to analyst estimates of $763.76 million. During the same quarter in the prior year, the firm posted $0.78 EPS. Carpenter Technology’s revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Carpenter Technology Co. will post 6.63 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s payout ratio is 30.42%.

About Carpenter Technology

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.