ARK Investment Management LLC Sells 1,121 Shares of Carpenter Technology Co. (NYSE:CRS)

ARK Investment Management LLC cut its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 33.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,230 shares of the basic materials company’s stock after selling 1,121 shares during the period. ARK Investment Management LLC’s holdings in Carpenter Technology were worth $158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Carpenter Technology by 0.9% during the third quarter. Vanguard Group Inc. now owns 5,855,711 shares of the basic materials company’s stock worth $393,562,000 after purchasing an additional 53,994 shares during the last quarter. State Street Corp boosted its holdings in Carpenter Technology by 35.7% during the first quarter. State Street Corp now owns 3,358,268 shares of the basic materials company’s stock worth $140,980,000 after purchasing an additional 883,239 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Carpenter Technology by 9.7% during the first quarter. Thrivent Financial for Lutherans now owns 1,563,172 shares of the basic materials company’s stock worth $69,968,000 after purchasing an additional 138,171 shares during the last quarter. FMR LLC boosted its holdings in Carpenter Technology by 15.9% during the third quarter. FMR LLC now owns 1,545,931 shares of the basic materials company’s stock worth $103,902,000 after purchasing an additional 212,321 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Carpenter Technology by 33.9% during the first quarter. Invesco Ltd. now owns 1,453,421 shares of the basic materials company’s stock worth $61,014,000 after purchasing an additional 368,093 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Stock Up 2.5 %

Carpenter Technology stock opened at $70.16 on Thursday. Carpenter Technology Co. has a fifty-two week low of $40.57 and a fifty-two week high of $74.06. The stock has a market cap of $3.47 billion, a PE ratio of 24.28 and a beta of 1.55. The firm’s 50-day simple moving average is $65.06 and its 200 day simple moving average is $66.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.90.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, January 25th. The basic materials company reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $669.56 million. Carpenter Technology had a net margin of 5.27% and a return on equity of 10.21%. Research analysts predict that Carpenter Technology Co. will post 4 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, January 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, January 29th. Carpenter Technology’s payout ratio is 27.68%.

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.