Carpenter Technology Co. (NYSE:CRS) Short Interest Down 10.0% in March

Carpenter Technology Co. (NYSE:CRS - Get Free Report) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,080,000 shares, a decrease of 10.0% from the March 15th total of 1,200,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average trading volume of 487,800 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Range Financial Group LLC lifted its position in Carpenter Technology by 1.7% in the third quarter. Range Financial Group LLC now owns 10,469 shares of the basic materials company's stock worth $704,000 after purchasing an additional 177 shares during the period. American International Group Inc. lifted its holdings in shares of Carpenter Technology by 0.7% during the fourth quarter. American International Group Inc. now owns 26,653 shares of the basic materials company's stock valued at $1,887,000 after acquiring an additional 188 shares during the period. Arizona State Retirement System lifted its holdings in shares of Carpenter Technology by 1.5% during the third quarter. Arizona State Retirement System now owns 13,823 shares of the basic materials company's stock valued at $929,000 after acquiring an additional 198 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Carpenter Technology by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 19,508 shares of the basic materials company's stock valued at $1,095,000 after acquiring an additional 212 shares during the period. Finally, Tlwm lifted its holdings in shares of Carpenter Technology by 2.3% during the third quarter. Tlwm now owns 13,421 shares of the basic materials company's stock valued at $902,000 after acquiring an additional 297 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Stock Performance

Shares of CRS traded down $1.62 during mid-day trading on Monday, hitting $75.88. The company's stock had a trading volume of 402,050 shares, compared to its average volume of 478,283. Carpenter Technology has a one year low of $44.40 and a one year high of $82.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 2.90. The firm has a market capitalization of $3.75 billion, a PE ratio of 26.26 and a beta of 1.56. The stock's 50-day moving average is $68.19 and its two-hundred day moving average is $67.28.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, January 25th. The basic materials company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $624.20 million during the quarter, compared to analysts' expectations of $669.56 million. Carpenter Technology had a return on equity of 10.21% and a net margin of 5.27%. As a group, sell-side analysts anticipate that Carpenter Technology will post 3.96 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, January 30th were given a $0.20 dividend. The ex-dividend date was Monday, January 29th. This represents a $0.80 annualized dividend and a yield of 1.05%. Carpenter Technology's dividend payout ratio (DPR) is currently 27.68%.

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.