Carpenter Technology Co. (NYSE:CRS) Shares Sold by Comerica Bank

Comerica Bank decreased its position in shares of Carpenter Technology Co. (NYSE:CRSGet Rating) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,930 shares of the basic materials company’s stock after selling 4,030 shares during the period. Comerica Bank’s holdings in Carpenter Technology were worth $1,335,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in Carpenter Technology during the 1st quarter worth about $26,000. Wipfli Financial Advisors LLC acquired a new position in Carpenter Technology during the 3rd quarter worth about $31,000. KBC Group NV purchased a new stake in Carpenter Technology during the 2nd quarter worth about $122,000. Alan B. Lancz & Associates Inc. purchased a new stake in Carpenter Technology during the 2nd quarter worth about $125,000. Finally, Captrust Financial Advisors increased its holdings in Carpenter Technology by 57.8% during the 1st quarter. Captrust Financial Advisors now owns 3,704 shares of the basic materials company’s stock worth $155,000 after purchasing an additional 1,356 shares during the period. Institutional investors and hedge funds own 92.28% of the company’s stock.

Wall Street Analyst Weigh In

Separately, downgraded Carpenter Technology from a “hold” rating to a “sell” rating in a report on Thursday, December 8th.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $44.28 on Monday. Carpenter Technology Co. has a 1-year low of $24.76 and a 1-year high of $44.97. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -51.49 and a beta of 1.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.80 and a quick ratio of 1.30. The stock’s 50-day moving average is $40.21 and its two-hundred day moving average is $36.39.

Carpenter Technology (NYSE:CRSGet Rating) last released its quarterly earnings data on Thursday, October 27th. The basic materials company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). Carpenter Technology had a negative return on equity of 3.35% and a negative net margin of 2.09%. The business had revenue of $522.90 million for the quarter, compared to the consensus estimate of $558.00 million. Analysts forecast that Carpenter Technology Co. will post 1.15 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 2nd. Stockholders of record on Tuesday, January 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. Carpenter Technology’s payout ratio is currently -93.02%.

Carpenter Technology Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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