Van ECK Associates Corp Sells 5,737 Shares of Carpenter Technology Co. (NYSE:CRS)

Van ECK Associates Corp lessened its position in Carpenter Technology Co. (NYSE:CRS) by 22.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,129 shares of the basic materials company’s stock after selling 5,737 shares during the period. Van ECK Associates Corp’s holdings in Carpenter Technology were worth $3,416,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 191 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Carpenter Technology in the third quarter worth $65,000. Wilmington Savings Fund Society FSB bought a new position in shares of Carpenter Technology during the third quarter valued at $80,000. Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology during the third quarter valued at $84,000. Finally, Fifth Third Bancorp increased its holdings in Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock worth $97,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on CRS shares. JPMorgan Chase & Co. upped their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday. Benchmark restated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and an average price target of $156.33.

Carpenter Technology Trading Up 2.0 %

Carpenter Technology stock opened at $209.92 on Thursday. Carpenter Technology Co. has a 52-week low of $62.99 and a 52-week high of $213.65. The company has a market cap of $10.49 billion, a P/E ratio of 39.61, a P/E/G ratio of 0.88 and a beta of 1.54. 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 business has a 50-day simple moving average of $187.83 and a two-hundred day simple moving average of $169.44.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. Analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a yield of 0.38%. Carpenter Technology’s dividend payout ratio is currently 15.09%.

Carpenter Technology Profile

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.