OLD National Bancorp IN Sells 653 Shares of Carpenter Technology Co. (NYSE:CRS)

OLD National Bancorp IN trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 15.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,460 shares of the basic materials company’s stock after selling 653 shares during the period. OLD National Bancorp IN’s holdings in Carpenter Technology were worth $245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRS. Invesco Ltd. grew its position in Carpenter Technology by 24.2% during the third quarter. Invesco Ltd. now owns 1,331,705 shares of the basic materials company’s stock worth $89,504,000 after buying an additional 259,330 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Carpenter Technology by 172.7% during the third quarter. Assenagon Asset Management S.A. now owns 406,108 shares of the basic materials company’s stock worth $27,295,000 after buying an additional 257,178 shares in the last quarter. Hawk Ridge Capital Management LP purchased a new position in Carpenter Technology during the third quarter worth about $15,472,000. FMR LLC grew its position 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 buying an additional 212,321 shares in the last quarter. Finally, Lisanti Capital Growth LLC grew its position in Carpenter Technology by 503.9% during the third quarter. Lisanti Capital Growth LLC now owns 177,970 shares of the basic materials company’s stock worth $11,961,000 after buying an additional 148,500 shares in the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

CRS opened at $81.73 on Friday. The stock has a 50-day moving average price of $70.46 and a 200-day moving average price of $67.90. Carpenter Technology Co. has a 12-month low of $44.40 and a 12-month high of $82.16. The company has a current ratio of 2.90, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $4.04 billion, a P/E ratio of 28.28 and a beta of 1.56.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, January 25th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%. The firm had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $669.56 million. Equities analysts predict that Carpenter Technology Co. will post 3.96 earnings per share for the current fiscal year.

Carpenter Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, April 23rd will be issued a $0.20 dividend. This is a boost from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, April 22nd. Carpenter Technology’s dividend payout ratio is presently 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.