Compass Wealth Management LLC Decreases Stake in Carpenter Technology Co. (NYSE:CRS)

Compass Wealth Management LLC decreased its holdings in Carpenter Technology Co. (NYSE:CRS) by 28.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,400 shares of the basic materials company’s stock after selling 550 shares during the period. Compass Wealth Management LLC’s holdings in Carpenter Technology were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its stake in shares of Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock valued at $552,992,000 after acquiring an additional 1,108,963 shares during the period. Assenagon Asset Management S.A. raised its position in Carpenter Technology by 1,538.1% in the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after purchasing an additional 200,364 shares during the period. Forest Avenue Capital Management LP acquired a new position in shares of Carpenter Technology during the third quarter worth about $25,262,000. WCM Investment Management LLC purchased a new stake in shares of Carpenter Technology in the third quarter worth about $18,868,000. Finally, Holocene Advisors LP acquired a new stake in shares of Carpenter Technology in the third quarter valued at about $17,337,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRS has been the topic of several recent research reports. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock. Benchmark reissued a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology Price Performance

CRS stock opened at $210.59 on Friday. The stock’s 50 day moving average is $186.11 and its two-hundred day moving average is $160.53. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $213.65. The company has a market capitalization of $10.50 billion, a PE ratio of 46.90, a P/E/G ratio of 0.98 and a beta of 1.55. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Analysts predict that Carpenter Technology Co. will post 6.77 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.38%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

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.