Carpenter Technology Co. (NYSE:CRS) Stake Trimmed by Orser Capital Management LLC

Orser Capital Management LLC decreased its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 1.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 31,093 shares of the basic materials company’s stock after selling 320 shares during the quarter. Carpenter Technology comprises about 3.9% of Orser Capital Management LLC’s holdings, making the stock its 10th biggest position. Orser Capital Management LLC’s holdings in Carpenter Technology were worth $5,277,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Strengthening Families & Communities LLC lifted its position in Carpenter Technology by 0.6% during the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock worth $2,763,000 after buying an additional 100 shares in the last quarter. Burney Co. increased its stake in shares of Carpenter Technology by 6.2% in the 4th quarter. Burney Co. now owns 2,045 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 120 shares during the last quarter. KBC Group NV raised its holdings in shares of Carpenter Technology by 13.5% during the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock worth $216,000 after acquiring an additional 161 shares during the period. Arete Wealth Advisors LLC boosted its position in shares of Carpenter Technology by 7.5% during the 3rd quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock valued at $384,000 after acquiring an additional 169 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 178 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Up 1.3 %

Shares of CRS opened at $198.64 on Thursday. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The firm has a market cap of $9.90 billion, a P/E ratio of 44.24, a price-to-earnings-growth ratio of 0.87 and a beta of 1.52. The company’s 50-day moving average price is $181.21 and its 200 day moving average price is $155.62. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $202.25.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same period in the prior year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts forecast that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CRS shares. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.00.

Carpenter Technology Company 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.