Royce & Associates LP Has $13.55 Million Position in Carpenter Technology Co. (NYSE:CRS)

Royce & Associates LP decreased its stake in Carpenter Technology Co. (NYSE:CRS) by 24.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,820 shares of the basic materials company’s stock after selling 25,530 shares during the period. Royce & Associates LP owned 0.16% of Carpenter Technology worth $13,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Kestra Investment Management LLC acquired a new stake in Carpenter Technology during the 4th quarter worth about $25,000. UMB Bank n.a. increased its holdings in Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 191 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in Carpenter Technology in the third quarter valued at approximately $65,000. Wilmington Savings Fund Society FSB bought a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $80,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Carpenter Technology during the 3rd quarter worth approximately $84,000. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRS has been the topic of several research analyst reports. BTIG Research set a $230.00 target price on shares of Carpenter Technology in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $167.17.

Carpenter Technology Stock Up 0.5 %

Shares of NYSE CRS opened at $184.42 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology Co. has a 1 year low of $65.26 and a 1 year high of $213.66. The stock has a market capitalization of $9.21 billion, a P/E ratio of 34.80, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a 50-day moving average price of $194.79 and a 200-day moving average price of $176.13.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. On average, equities research analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

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.