Atria Investments Inc Cuts Stake in Carpenter Technology Co. (NYSE:CRS)

Atria Investments Inc lessened its holdings in Carpenter Technology Co. (NYSE:CRS) by 18.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,215 shares of the basic materials company’s stock after selling 278 shares during the quarter. Atria Investments Inc’s holdings in Carpenter Technology were worth $206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in Carpenter Technology in the fourth quarter valued at $25,000. UMB Bank n.a. raised its position in Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 191 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Carpenter Technology in the 3rd quarter valued at about $65,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Carpenter Technology during the third quarter worth about $80,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology during the third quarter worth approximately $84,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $181.52 on Wednesday. Carpenter Technology Co. has a 12 month low of $66.00 and a 12 month high of $213.66. The firm has a market capitalization of $9.07 billion, a P/E ratio of 34.25, a P/E/G ratio of 0.93 and a beta of 1.55. 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’s fifty day moving average price is $194.80 and its 200 day moving average price is $176.39.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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 predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Carpenter Technology’s payout ratio is 15.09%.

Carpenter Technology 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.