Legato Capital Management LLC Decreases Stake in Carpenter Technology Co. (NYSE:CRS)

Legato Capital Management LLC lessened its holdings in Carpenter Technology Co. (NYSE:CRS) by 26.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,560 shares of the basic materials company’s stock after selling 1,640 shares during the period. Legato Capital Management LLC’s holdings in Carpenter Technology were worth $774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. grew its position in Carpenter Technology by 2.7% during 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 period. Strengthening Families & Communities LLC boosted its stake in Carpenter Technology by 0.6% in the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after acquiring an additional 100 shares during the last quarter. Fifth Third Bancorp boosted its stake in Carpenter Technology by 23.5% in the fourth quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company’s stock valued at $97,000 after acquiring an additional 109 shares during the last quarter. Wesbanco Bank Inc. boosted its stake in Carpenter Technology by 1.2% in the fourth quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company’s stock valued at $1,663,000 after acquiring an additional 115 shares during the last quarter. Finally, Burney Co. boosted its stake in Carpenter Technology by 6.2% in the fourth quarter. Burney Co. now owns 2,045 shares of the basic materials company’s stock valued at $347,000 after acquiring an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $183.19 on Friday. The stock has a market capitalization of $9.15 billion, a P/E ratio of 34.56, a PEG ratio of 0.88 and a beta of 1.54. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $186.77 and its 200 day moving average is $167.67. Carpenter Technology Co. has a 12 month low of $61.31 and a 12 month high of $213.65.

Carpenter Technology (NYSE:CRS) last announced its quarterly 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, sell-side analysts anticipate that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s payout ratio is currently 15.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CRS shares. JPMorgan Chase & Co. boosted their target price on shares of Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Benchmark reiterated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and an average target price of $155.50.

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.