Bank of New York Mellon Corp Has $84.53 Million Stock Position in Carpenter Technology Co. (NYSE:CRS)

Bank of New York Mellon Corp decreased its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 498,067 shares of the basic materials company’s stock after selling 33,740 shares during the period. Bank of New York Mellon Corp owned 1.00% of Carpenter Technology worth $84,527,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. lifted its position in Carpenter Technology by 2.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock worth $410,000 after buying an additional 63 shares in the last quarter. CIBC Asset Management Inc lifted its position in Carpenter Technology by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 78 shares during the period. Strengthening Families & Communities LLC lifted its position in 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 period. Fifth Third Bancorp lifted 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 valued at $97,000 after purchasing an additional 109 shares during the period. Finally, Wesbanco Bank Inc. lifted its position in Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock valued at $1,663,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $207.25 on Monday. 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 stock has a market cap of $10.35 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. The stock has a 50-day moving average of $191.91 and a 200-day moving average of $172.75. Carpenter Technology Co. has a one year low of $62.99 and a one year 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 EPS 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%. As a group, sell-side analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

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 paid a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.39%. Carpenter Technology’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and a consensus target price of $167.17.

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.