Wakefield Asset Management LLLP Has $1.10 Million Stock Position in Carpenter Technology Co. (NYSE:CRS)

Wakefield Asset Management LLLP cut its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 29.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,462 shares of the basic materials company’s stock after selling 2,721 shares during the period. Wakefield Asset Management LLLP’s holdings in Carpenter Technology were worth $1,097,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CRS. Private Advisor Group LLC boosted its stake in Carpenter Technology by 3.8% in the 3rd quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company’s stock valued at $846,000 after purchasing an additional 196 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Carpenter Technology by 2.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,948 shares of the basic materials company’s stock valued at $1,907,000 after acquiring an additional 319 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Carpenter Technology by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,968 shares of the basic materials company’s stock worth $1,910,000 after purchasing an additional 457 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Carpenter Technology by 6.8% during the 3rd quarter. New York State Teachers Retirement System now owns 64,163 shares of the basic materials company’s stock worth $10,239,000 after purchasing an additional 4,094 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of Carpenter Technology by 8.9% during the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 180 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $198.94 on Friday. The stock has a fifty day moving average of $191.17 and a 200-day moving average of $171.85. The stock has a market capitalization of $9.94 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a 52 week low of $62.99 and a 52 week high of $213.65.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping 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 expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders 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 0.40%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CRS shares. JPMorgan Chase & Co. raised their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price target on Carpenter Technology in a research note 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 company. According to data from MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and an average price target of $167.17.

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.