American Trust Has $356,000 Holdings in Carpenter Technology Co. (NYSE:CRS)

American Trust lowered its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 20.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,233 shares of the basic materials company’s stock after selling 567 shares during the period. American Trust’s holdings in Carpenter Technology were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its position in shares of Carpenter Technology by 3.9% during the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock valued at $58,137,000 after buying an additional 13,815 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock worth $3,801,000 after acquiring an additional 1,343 shares in the last quarter. Forest Avenue Capital Management LP purchased a new stake in shares of Carpenter Technology in the third quarter valued at about $25,262,000. Charles Schwab Investment Management Inc. lifted its position in shares of Carpenter Technology by 15.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after purchasing an additional 103,559 shares in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in Carpenter Technology during the second quarter worth about $1,460,000. 92.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CRS shares. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Stock Performance

Shares of CRS opened at $174.09 on Friday. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $198.24. 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 stock’s fifty day moving average price is $173.18 and its two-hundred day moving average price is $143.92. The firm has a market cap of $8.68 billion, a PE ratio of 38.77, a PEG ratio of 0.90 and a beta of 1.52.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, equities research analysts forecast that Carpenter Technology Co. will post 6.74 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

About Carpenter Technology

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.