Deprince Race & Zollo Inc. Reduces Holdings in Carpenter Technology Co. (NYSE:CRS)

Deprince Race & Zollo Inc. trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS) by 63.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,523 shares of the basic materials company’s stock after selling 225,748 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 0.27% of Carpenter Technology worth $5,371,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of CRS. TRU Independence Asset Management 2 LLC purchased a new stake in Carpenter Technology in the 4th quarter valued at $50,000. Encompass Wealth Advisors LLC purchased a new stake in Carpenter Technology in the 4th quarter valued at $50,000. Captrust Financial Advisors grew its holdings in Carpenter Technology by 2,026.9% in the 1st quarter. Captrust Financial Advisors now owns 3,084 shares of the basic materials company’s stock valued at $127,000 after buying an additional 2,939 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Carpenter Technology by 13.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 5,547 shares of the basic materials company’s stock valued at $162,000 after buying an additional 644 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Carpenter Technology in the 1st quarter valued at $168,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

NYSE CRS opened at $38.46 on Thursday. The stock has a market cap of $1.85 billion, a PE ratio of -6.37 and a beta of 2.21. The company has a current ratio of 4.27, a quick ratio of 2.28 and a debt-to-equity ratio of 0.50. Carpenter Technology Co. has a twelve month low of $15.90 and a twelve month high of $49.20. The business’s fifty day simple moving average is $41.95.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, April 29th. The basic materials company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.03. The business had revenue of $351.90 million during the quarter, compared to analysts’ expectations of $368.53 million. Carpenter Technology had a negative return on equity of 7.06% and a negative net margin of 19.51%. The company’s revenue was down 39.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 EPS. Analysts expect that Carpenter Technology Co. will post -2.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 3rd. Investors of record on Tuesday, May 4th were paid a dividend of $0.20 per share. This is a positive change from Carpenter Technology’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, May 3rd. This represents a $0.80 annualized dividend and a yield of 2.08%. Carpenter Technology’s dividend payout ratio is presently 36.20%.

Separately, JPMorgan Chase & Co. started coverage on Carpenter Technology in a report on Wednesday, June 16th. They set a “neutral” rating and a $49.00 price target for the company.

About Carpenter Technology

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. 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 drilling tools, and metal powders and parts.

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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