Fisher Asset Management LLC Reduces Holdings in Carpenter Technology Co. (NYSE:CRS)

Fisher Asset Management LLC lessened its holdings in Carpenter Technology Co. (NYSE:CRS) by 9.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 409,414 shares of the basic materials company’s stock after selling 41,954 shares during the period. Fisher Asset Management LLC’s holdings in Carpenter Technology were worth $28,987,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CRS. Phocas Financial Corp. acquired a new position in shares of Carpenter Technology during the 4th quarter worth approximately $3,396,000. Consolidated Portfolio Review Corp acquired a new position in shares of Carpenter Technology in the fourth quarter worth $1,297,000. Penserra Capital Management LLC lifted its position in shares of Carpenter Technology by 6,477.1% in the third quarter. Penserra Capital Management LLC now owns 37,884 shares of the basic materials company’s stock valued at $2,546,000 after acquiring an additional 37,308 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Carpenter Technology during the fourth quarter valued at $100,000. Finally, Kestra Advisory Services LLC increased its position in Carpenter Technology by 7.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 7,256 shares of the basic materials company’s stock worth $488,000 after purchasing an additional 503 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, TD Cowen upped their target price on shares of Carpenter Technology from $90.00 to $116.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and a consensus price target of $96.33.

Carpenter Technology Trading Up 3.7 %

Shares of Carpenter Technology stock opened at $103.64 on Friday. Carpenter Technology Co. has a fifty-two week low of $44.40 and a fifty-two week high of $104.85. The business’s fifty day moving average is $74.07 and its two-hundred day moving average is $69.06. The company has a quick ratio of 1.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.46. The firm has a market cap of $5.14 billion, a PE ratio of 39.41 and a beta of 1.47.

Carpenter Technology (NYSE:CRS) last released its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.94 by $0.25. Carpenter Technology had a return on equity of 12.75% and a net margin of 4.83%. The firm had revenue of $684.90 million during the quarter, compared to analyst estimates of $707.73 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Analysts anticipate that Carpenter Technology Co. will post 3.97 earnings per share for the current year.

Carpenter Technology Increases Dividend

The business 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 dividend of $0.20 per share. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Monday, April 22nd. Carpenter Technology’s dividend payout ratio is presently 30.42%.

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.