Fisher Asset Management LLC Sells 41,954 Shares of Carpenter Technology Co. (NYSE:CRS)

Fisher Asset Management LLC decreased its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 409,414 shares of the basic materials company's stock after selling 41,954 shares during the period. Fisher Asset Management LLC owned approximately 0.83% of Carpenter Technology worth $28,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $284,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Carpenter Technology in the 3rd quarter valued at $202,000. JB Capital LLC boosted its position in shares of Carpenter Technology by 14.2% in the 3rd quarter. JB Capital LLC now owns 19,021 shares of the basic materials company's stock valued at $1,278,000 after purchasing an additional 2,364 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Carpenter Technology by 16.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,184 shares of the basic materials company's stock valued at $550,000 after acquiring an additional 1,174 shares during the period. Finally, Strs Ohio increased its position in Carpenter Technology by 400.0% in the 3rd quarter. Strs Ohio now owns 2,500 shares of the basic materials company's stock valued at $168,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Stock Performance

Shares of NYSE CRS traded up $3.74 during mid-day trading on Friday, hitting $103.64. The company had a trading volume of 892,810 shares, compared to its average volume of 700,732. Carpenter Technology Co. has a 12 month low of $44.40 and a 12 month high of $104.85. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 39.41 and a beta of 1.47. The firm's 50 day simple moving average is $74.07 and its two-hundred day simple moving average is $69.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.26.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.94 by $0.25. The company had revenue of $684.90 million for the quarter, compared to analyst estimates of $707.73 million. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. Carpenter Technology's quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. As a group, equities research analysts forecast that Carpenter Technology Co. will post 3.97 earnings per share for the current year.

Carpenter Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Tuesday, April 23rd will be issued a $0.20 dividend. This is an increase from Carpenter Technology's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, April 22nd. Carpenter Technology's dividend payout ratio is 30.42%.

Analyst Ratings Changes

Separately, TD Cowen upped their price target on shares of Carpenter Technology from $90.00 to $116.00 and gave the stock a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $96.33.

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.