Empowered Funds LLC Decreases Holdings in Carpenter Technology Co. (NYSE:CRS)

Empowered Funds LLC decreased its holdings in Carpenter Technology Co. (NYSE:CRS) by 21.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,677 shares of the basic materials company’s stock after selling 9,437 shares during the period. Empowered Funds LLC owned approximately 0.07% of Carpenter Technology worth $5,374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kimelman & Baird LLC bought a new stake in Carpenter Technology in the second quarter worth $33,000. National Bank of Canada FI purchased a new position in shares of Carpenter Technology in the second quarter worth about $49,000. EverSource Wealth Advisors LLC lifted its stake in shares of Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 178 shares during the last quarter. Covestor Ltd lifted its stake in shares of Carpenter Technology by 469.2% in the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 685 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Carpenter Technology during the 3rd quarter valued at about $64,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Up 2.0 %

CRS opened at $175.50 on Monday. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $182.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The business has a 50 day simple moving average of $158.32 and a two-hundred day simple moving average of $132.98. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 0.88 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating 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 return on equity of 18.01% and a net margin of 8.05%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. Analysts predict that Carpenter Technology Co. will post 6.68 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Carpenter Technology’s dividend payout ratio is 17.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CRS shares. Benchmark reaffirmed a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research lifted their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and an average target price of $139.60.

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.