Carpenter Technology Co. (NYSE:CRS) is Phocas Financial Corp.’s 7th Largest Position

Phocas Financial Corp. cut its stake in Carpenter Technology Co. (NYSE:CRS) by 85.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,119 shares of the basic materials company’s stock after selling 68,888 shares during the period. Carpenter Technology accounts for 1.5% of Phocas Financial Corp.’s portfolio, making the stock its 7th largest position. Phocas Financial Corp.’s holdings in Carpenter Technology were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in CRS. FMR LLC lifted its holdings in shares of Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after purchasing an additional 1,108,963 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Carpenter Technology by 428.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 592,034 shares of the basic materials company’s stock valued at $103,714,000 after acquiring an additional 479,985 shares in the last quarter. Forest Avenue Capital Management LP acquired a new position in Carpenter Technology during the third quarter worth about $25,262,000. WCM Investment Management LLC acquired a new stake in Carpenter Technology in the 3rd quarter valued at about $18,868,000. Finally, Holocene Advisors LP acquired a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $17,337,000. 92.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRS. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and a consensus price target of $167.17.

Carpenter Technology Trading Down 0.3 %

Carpenter Technology stock opened at $199.64 on Wednesday. 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 12 month low of $62.99 and a 12 month high of $213.65. The company’s fifty day simple moving average is $189.91 and its 200-day simple moving average is $171.47. The stock has a market cap of $9.97 billion, a P/E ratio of 37.67, a P/E/G ratio of 0.93 and a beta of 1.54.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share 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%. As a group, sell-side analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.40%. Carpenter Technology’s dividend payout ratio (DPR) is presently 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.