Choreo LLC Sells 1,022 Shares of Carpenter Technology Co. (NYSE:CRS)

Choreo LLC trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS) by 41.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,417 shares of the basic materials company’s stock after selling 1,022 shares during the period. Choreo LLC’s holdings in Carpenter Technology were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its stake in Carpenter Technology by 2.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after acquiring an additional 63 shares during the last quarter. Strengthening Families & Communities LLC increased its position in shares of Carpenter Technology by 0.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after purchasing an additional 100 shares during the last quarter. Fifth Third Bancorp raised its holdings in Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after buying an additional 109 shares during the period. Wesbanco Bank Inc. lifted its position in Carpenter Technology by 1.2% in the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after buying an additional 115 shares during the last quarter. Finally, Burney Co. boosted its stake in Carpenter Technology by 6.2% during the fourth quarter. Burney Co. now owns 2,045 shares of the basic materials company’s stock worth $347,000 after buying an additional 120 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Trading Up 3.1 %

NYSE CRS opened at $188.92 on Friday. Carpenter Technology Co. has a 12 month low of $62.99 and a 12 month high of $213.65. The company’s 50-day moving average price is $186.67 and its 200-day moving average price is $168.00. The stock has a market cap of $9.44 billion, a PE ratio of 35.65, a PEG ratio of 0.88 and a beta of 1.54. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40.

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

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRS. Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Carpenter Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and an average price target of $155.50.

Carpenter Technology Company 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.