Carpenter Technology Co. (NYSE:CRS) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its position in shares of Carpenter Technology Co. (NYSE:CRS) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,940 shares of the basic materials company’s stock after selling 190 shares during the quarter. Janus Henderson Group PLC’s holdings in Carpenter Technology were worth $3,345,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new stake in shares of Carpenter Technology in the second quarter valued at about $33,000. nVerses Capital LLC acquired a new position in Carpenter Technology during the third quarter worth about $64,000. Banque Cantonale Vaudoise acquired a new position in Carpenter Technology during the third quarter worth about $65,000. National Bank of Canada FI acquired a new position in Carpenter Technology during the second quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC boosted its position in Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price on the stock. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $181.04 on Thursday. The company’s 50 day simple moving average is $172.44 and its 200-day simple moving average is $143.23. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 40.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $198.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. As a group, equities research analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, October 22nd. Carpenter Technology’s payout ratio is currently 17.82%.

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.