Peregrine Capital Management LLC Trims Holdings in Carpenter Technology Co. (NYSE:CRS)

Peregrine Capital Management LLC decreased its holdings in Carpenter Technology Co. (NYSE:CRS) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,490 shares of the basic materials company’s stock after selling 8,342 shares during the quarter. Peregrine Capital Management LLC’s holdings in Carpenter Technology were worth $5,174,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. raised 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 purchasing an additional 191 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Carpenter Technology in the 3rd quarter valued at $65,000. Wilmington Savings Fund Society FSB purchased a new stake in Carpenter Technology in the 3rd quarter valued at $80,000. Morse Asset Management Inc purchased a new stake in Carpenter Technology in the 3rd quarter valued at $84,000. Finally, Fifth Third Bancorp raised its position in Carpenter Technology by 23.5% during 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 during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS opened at $209.92 on Thursday. The company has a 50-day simple moving average of $187.83 and a 200-day simple moving average of $169.44. 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 company has a market capitalization of $10.49 billion, a PE ratio of 39.61, a P/E/G ratio of 0.88 and a beta of 1.54. Carpenter Technology Co. has a 52-week low of $62.99 and a 52-week high of $213.65.

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

Carpenter Technology Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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. JPMorgan Chase & Co. upped their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $156.33.

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.