Farther Finance Advisors LLC Sells 279 Shares of Carpenter Technology Co. (NYSE:CRS)

Farther Finance Advisors LLC cut its stake in Carpenter Technology Co. (NYSE:CRS) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,600 shares of the basic materials company’s stock after selling 279 shares during the period. Farther Finance Advisors LLC’s holdings in Carpenter Technology were worth $272,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CRS. Kestra Investment Management LLC bought a new stake in Carpenter Technology in the fourth quarter valued at approximately $25,000. UMB Bank n.a. boosted 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 valued at $52,000 after acquiring an additional 191 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Carpenter Technology in the third quarter valued at approximately $65,000. Wilmington Savings Fund Society FSB bought a new stake in Carpenter Technology in the third quarter valued at approximately $80,000. Finally, Morse Asset Management Inc bought a new stake in Carpenter Technology in the third quarter valued at approximately $84,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $181.52 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 twelve month low of $66.00 and a twelve month high of $213.66. The stock’s 50 day moving average is $194.80 and its 200-day moving average is $176.39. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 0.93 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last issued 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 return on equity of 19.88% and a net margin of 9.34%. Sell-side analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were given 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 was Tuesday, January 28th. Carpenter Technology’s payout ratio is 15.09%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CRS shares. BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.