Carpenter Technology Co. (NYSE:CRS) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 87.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,230 shares of the basic materials company’s stock after selling 15,453 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Carpenter Technology were worth $356,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRS. Kimelman & Baird LLC acquired a new stake in Carpenter Technology during the 2nd quarter worth $33,000. National Bank of Canada FI purchased a new position in Carpenter Technology during the 2nd quarter worth $49,000. EverSource Wealth Advisors LLC raised its position in Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after buying an additional 178 shares during the last quarter. Covestor Ltd raised its position in Carpenter Technology by 469.2% during the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after buying an additional 685 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Carpenter Technology during the 3rd quarter worth $64,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CRS has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. BTIG Research increased their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $175.50 on Monday. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 0.88 and a beta of 1.46. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $182.52. The company’s 50-day moving average price is $158.32 and its 200 day moving average price is $132.98. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42.

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, beating analysts’ consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. As a group, research analysts forecast that Carpenter Technology Co. will post 6.68 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Carpenter Technology’s payout ratio is 17.82%.

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.