Carpenter Technology Co. (NYSE:CRS) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lowered its holdings in Carpenter Technology Co. (NYSE:CRS) by 33.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 284,125 shares of the basic materials company’s stock after selling 141,446 shares during the period. Carpenter Technology makes up 2.4% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 3rd biggest holding. Emerald Mutual Fund Advisers Trust owned approximately 0.57% of Carpenter Technology worth $45,341,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Kimelman & Baird LLC acquired a new position in Carpenter Technology during the 2nd quarter worth approximately $33,000. nVerses Capital LLC acquired a new position in Carpenter Technology during the 3rd quarter worth approximately $64,000. Whittier Trust Co. acquired a new position in Carpenter Technology during the 1st quarter worth approximately $30,000. National Bank of Canada FI acquired a new position in Carpenter Technology during the 2nd quarter worth approximately $49,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of 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. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRS. BTIG Research boosted their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. 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. One equities research analyst has rated the stock with a sell rating and four 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 an average target price of $139.60.

Carpenter Technology Stock Up 3.9 %

CRS stock opened at $155.36 on Friday. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $166.67. The company has a fifty day moving average price of $151.78 and a 200 day moving average price of $125.99.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The company had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. Carpenter Technology’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. Sell-side analysts expect that Carpenter Technology Co. will post 6.68 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, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Carpenter Technology’s dividend payout ratio is currently 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.