American Trust Lowers Holdings in Carpenter Technology Co. (NYSE:CRS)

American Trust trimmed its holdings in Carpenter Technology Co. (NYSE:CRS – Get Rating) by 19.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,525 shares of the basic materials company’s stock after selling 1,796 shares during the quarter. American Trust’s holdings in Carpenter Technology were worth $234,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Carpenter Technology during the 1st quarter worth about $26,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth about $31,000. Captrust Financial Advisors boosted its stake in shares of Carpenter Technology by 57.8% during the 1st quarter. Captrust Financial Advisors now owns 3,704 shares of the basic materials company’s stock worth $155,000 after acquiring an additional 1,356 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of Carpenter Technology during the 1st quarter worth about $208,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth about $171,000. 92.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRS has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Carpenter Technology in a research note on Thursday. They set a “hold” rating on the stock. Cowen upped their price target on shares of Carpenter Technology from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th.

Carpenter Technology Stock Down 8.9 %

CRS opened at $38.39 on Friday. Carpenter Technology Co. has a twelve month low of $24.76 and a twelve month high of $52.50. The company has a quick ratio of 1.10, a current ratio of 2.52 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $47.08 and a 200 day moving average price of $40.60. The company has a market cap of $1.86 billion, a PE ratio of -319.89 and a beta of 1.79.

Carpenter Technology (NYSE:CRS – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The basic materials company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Carpenter Technology had a negative net margin of 0.26% and a negative return on equity of 0.78%. The firm had revenue of $579.10 million during the quarter, compared to the consensus estimate of $525.67 million. During the same quarter in the prior year, the firm earned ($0.58) EPS. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. Sell-side analysts expect that Carpenter Technology Co. will post 1.05 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 2nd. Shareholders of record on Tuesday, January 31st were issued a $0.20 dividend. The ex-dividend date was Monday, January 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.08%. Carpenter Technology’s payout ratio is -666.61%.

Insider Buying and Selling at Carpenter Technology

In other Carpenter Technology news, CAO Elizabeth A. Socci sold 5,722 shares of the stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $50.56, for a total value of $289,304.32. Following the completion of the sale, the chief accounting officer now owns 11,755 shares in the company, valued at approximately $594,332.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is owned by insiders.

About Carpenter Technology

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Carpenter Technology Corp. engages in the manufacturing, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations and Performance Engineered Products segments. The Specialty Alloys Operations segment is composed of its major premium alloy and stainless-steel manufacturing operations.