Carpenter Technology Co. (NYSE:CRS) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in Carpenter Technology Co. (NYSE:CRS) by 70.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,728 shares of the basic materials company’s stock after selling 27,495 shares during the period. Thrivent Financial for Lutherans’ holdings in Carpenter Technology were worth $1,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after acquiring an additional 1,108,963 shares during the period. Geode Capital Management LLC raised its holdings in Carpenter Technology by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,100,204 shares of the basic materials company’s stock worth $175,607,000 after purchasing an additional 17,497 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Carpenter Technology by 428.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock valued at $103,714,000 after purchasing an additional 479,985 shares during the period. Avala Global LP boosted its holdings in Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock valued at $67,614,000 after purchasing an additional 73,400 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Carpenter Technology by 7.1% during the 4th quarter. Fisher Asset Management LLC now owns 390,229 shares of the basic materials company’s stock worth $66,226,000 after purchasing an additional 25,917 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CRS. BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.17.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $181.32 on Friday. The stock has a fifty day moving average price of $194.01 and a 200 day moving average price of $178.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The stock has a market cap of $9.06 billion, a PE ratio of 34.21, a P/E/G ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 1 year low of $70.20 and a 1 year high of $213.66.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, January 28th. Carpenter Technology’s 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.