Carpenter Technology Co. (NYSE:CRS) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its position in shares of Carpenter Technology Co. (NYSE:CRS) by 78.9% in the third quarter, HoldingsChannel.com reports. The firm owned 5,286 shares of the basic materials company’s stock after selling 19,734 shares during the quarter. Verition Fund Management LLC’s holdings in Carpenter Technology were worth $844,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Strengthening Families & Communities LLC boosted its position in shares of Carpenter Technology by 0.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock worth $2,763,000 after acquiring an additional 100 shares in the last quarter. CWM LLC boosted its holdings in Carpenter Technology by 12.6% in the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 103 shares in the last quarter. KBC Group NV increased its stake in Carpenter Technology by 13.5% in the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 161 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 178 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Carpenter Technology by 8.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company’s stock worth $353,000 after buying an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Down 4.8 %

NYSE CRS opened at $184.21 on Tuesday. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $198.24. The firm has a market cap of $9.18 billion, a PE ratio of 41.03, a P/E/G ratio of 0.97 and a beta of 1.52. The firm’s fifty day moving average is $171.49 and its two-hundred day moving average is $142.46. 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 posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.58 by $0.15. The firm had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. Analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Tuesday, October 22nd. Carpenter Technology’s payout ratio is 17.82%.

Analyst Ratings Changes

A number of research analysts recently commented on CRS shares. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $175.00 target price 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

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.