Carpenter Technology Co. (NYSE:CRS) Position Lessened by Shell Asset Management Co.

Shell Asset Management Co. reduced its stake in shares of Carpenter Technology Co. (NYSE:CRS – Get Rating) by 5.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,343 shares of the basic materials company’s stock after selling 209 shares during the quarter. Shell Asset Management Co.’s holdings in Carpenter Technology were worth $123,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CRS. Envestnet Asset Management Inc. increased its stake in shares of Carpenter Technology by 2.8% in the second quarter. Envestnet Asset Management Inc. now owns 13,226 shares of the basic materials company’s stock worth $369,000 after purchasing an additional 361 shares during the period. JB Capital LLC grew its position in Carpenter Technology by 2.5% during the fourth quarter. JB Capital LLC now owns 15,405 shares of the basic materials company’s stock worth $569,000 after buying an additional 379 shares in the last quarter. Legal & General Group Plc grew its position in Carpenter Technology by 0.3% during the second quarter. Legal & General Group Plc now owns 141,295 shares of the basic materials company’s stock worth $3,943,000 after buying an additional 392 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Carpenter Technology by 1.0% during the first quarter. Great West Life Assurance Co. Can now owns 43,358 shares of the basic materials company’s stock worth $1,871,000 after buying an additional 412 shares in the last quarter. Finally, Strengthening Families & Communities LLC grew its position in Carpenter Technology by 4.1% during the fourth quarter. Strengthening Families & Communities LLC now owns 14,426 shares of the basic materials company’s stock worth $534,000 after buying an additional 568 shares in the last quarter. 92.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CRS shares. StockNews.com raised Carpenter Technology from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Cowen lifted their target price on Carpenter Technology from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th.

Carpenter Technology Stock Down 1.8 %

NYSE CRS opened at $48.67 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.14 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $45.96 and its two-hundred day moving average is $43.80. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 115.88 and a beta of 1.76. Carpenter Technology Co. has a 1-year low of $24.76 and a 1-year high of $54.89.

Carpenter Technology (NYSE:CRS – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The basic materials company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.05. The company had revenue of $690.10 million for the quarter, compared to the consensus estimate of $632.50 million. Carpenter Technology had a return on equity of 1.35% and a net margin of 0.87%. The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) earnings per share. Equities analysts forecast that Carpenter Technology Co. will post 1 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Tuesday, May 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Monday, May 1st. Carpenter Technology’s payout ratio is 190.48%.

Insider Buying and Selling at Carpenter Technology

In other news, CAO Elizabeth A. Socci sold 5,722 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $50.56, for a total value of $289,304.32. Following the transaction, the chief accounting officer now directly owns 11,755 shares of the company’s stock, valued at approximately $594,332.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.50% of the company’s stock.

About Carpenter Technology

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Carpenter Technology Corp. engages in the manufacturing, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations and Performance Engineered Products segments. The Specialty Alloys Operations segment is composed of its major premium alloy and stainless-steel manufacturing operations.