Carpenter Technology Co. (NYSE:CRS) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in shares of Carpenter Technology Co. (NYSE:CRS) by 70.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,728 shares of the basic materials company’s stock after selling 27,495 shares during the period. Thrivent Financial for Lutherans’ holdings in Carpenter Technology were worth $1,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CRS. Stratos Wealth Partners LTD. increased its holdings in Carpenter Technology by 2.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company’s stock valued at $410,000 after buying an additional 63 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 71 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Carpenter Technology by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 78 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock worth $97,000 after acquiring an additional 109 shares in the last quarter. Finally, Wesbanco Bank Inc. lifted its stake in Carpenter Technology by 1.2% during the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock worth $1,663,000 after purchasing an additional 115 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Carpenter Technology Trading Down 2.4 %

CRS opened at $181.32 on Friday. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a 52 week low of $70.20 and a 52 week high of $213.66. The business’s 50 day moving average is $194.01 and its two-hundred day moving average is $178.72. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current year.

Carpenter Technology Announces Dividend

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

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.