Great Lakes Advisors LLC Sells 3,410 Shares of Carpenter Technology Co. (NYSE:CRS)

Great Lakes Advisors LLC cut its position in Carpenter Technology Co. (NYSE:CRS) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,444 shares of the basic materials company’s stock after selling 3,410 shares during the quarter. Great Lakes Advisors LLC owned about 0.05% of Carpenter Technology worth $4,488,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 71 shares during the period. HighTower Advisors LLC raised its stake in shares of Carpenter Technology by 57.6% during the 4th quarter. HighTower Advisors LLC now owns 22,360 shares of the basic materials company’s stock valued at $3,795,000 after purchasing an additional 8,168 shares during the period. Dearborn Partners LLC raised its stake in shares of Carpenter Technology by 9.3% during the 4th quarter. Dearborn Partners LLC now owns 2,787 shares of the basic materials company’s stock valued at $473,000 after purchasing an additional 237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Carpenter Technology by 15.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,967 shares of the basic materials company’s stock valued at $2,201,000 after purchasing an additional 1,717 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of Carpenter Technology during the 4th quarter valued at $5,501,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $183.76 on Friday. The business has a 50-day simple moving average of $194.72 and a 200 day simple moving average of $175.09. Carpenter Technology Co. has a 52 week low of $64.58 and a 52 week high of $213.66. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The stock has a market cap of $9.18 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, research analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s payout ratio is currently 15.09%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 target price on Carpenter Technology in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and a consensus price target of $167.17.

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.