Carpenter Technology Co. (NYSE:CRS) Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC lowered its stake in Carpenter Technology Co. (NYSE:CRS) by 31.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,553 shares of the basic materials company’s stock after selling 41,967 shares during the period. Carpenter Technology makes up approximately 1.5% of Penn Capital Management Company LLC’s portfolio, making the stock its 11th biggest holding. Penn Capital Management Company LLC owned about 0.19% of Carpenter Technology worth $15,707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pictet Asset Management Holding SA grew its holdings in shares of Carpenter Technology by 14.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,865 shares of the basic materials company’s stock worth $1,165,000 after acquiring an additional 877 shares during the period. Tidal Investments LLC increased its position in Carpenter Technology by 91.9% during the third quarter. Tidal Investments LLC now owns 21,083 shares of the basic materials company’s stock worth $3,364,000 after buying an additional 10,094 shares in the last quarter. Manuka Financial LLC acquired a new position in shares of Carpenter Technology in the fourth quarter worth $368,000. Park Avenue Securities LLC purchased a new stake in shares of Carpenter Technology in the fourth quarter valued at $419,000. Finally, XML Financial LLC boosted its stake in shares of Carpenter Technology by 215.3% during the fourth quarter. XML Financial LLC now owns 9,460 shares of the basic materials company’s stock valued at $1,605,000 after acquiring an additional 6,460 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. BTIG Research set a $230.00 price target on Carpenter Technology in a research note on Friday, January 31st. Northcoast Research raised Carpenter Technology from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $191.75 on Thursday. Carpenter Technology Co. has a 12-month low of $78.20 and a 12-month high of $213.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. The firm’s fifty day moving average price is $183.33 and its 200 day moving average price is $181.11.

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

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Tuesday, April 22nd. Carpenter Technology’s payout ratio is currently 15.09%.

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.