Lisanti Capital Growth LLC Sells 106,595 Shares of Carpenter Technology Co. (NYSE:CRS)

Lisanti Capital Growth LLC reduced its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 59.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,375 shares of the basic materials company's stock after selling 106,595 shares during the quarter. Carpenter Technology makes up approximately 1.2% of Lisanti Capital Growth LLC's holdings, making the stock its 29th biggest position. Lisanti Capital Growth LLC owned approximately 0.14% of Carpenter Technology worth $5,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Natixis Advisors L.P. raised its holdings in Carpenter Technology by 6.3% during the fourth quarter. Natixis Advisors L.P. now owns 23,675 shares of the basic materials company's stock worth $1,676,000 after acquiring an additional 1,412 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Carpenter Technology by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 22,621 shares of the basic materials company's stock worth $1,602,000 after buying an additional 1,419 shares during the period. Van ECK Associates Corp lifted its position in Carpenter Technology by 109.4% during the fourth quarter. Van ECK Associates Corp now owns 90,204 shares of the basic materials company's stock worth $6,386,000 after acquiring an additional 47,124 shares during the last quarter. Precision Wealth Strategies LLC bought a new position in shares of Carpenter Technology during the fourth quarter worth approximately $202,000. Finally, Yousif Capital Management LLC grew its holdings in Carpenter Technology by 4.5% in the 4th quarter. Yousif Capital Management LLC now owns 25,114 shares of the basic materials company's stock valued at $1,778,000 after buying an additional 1,083 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRS shares. TD Cowen upped their price target on shares of Carpenter Technology from $90.00 to $116.00 and gave the company a "buy" rating in a research note on Thursday. Northcoast Research reaffirmed a "neutral" rating on shares of Carpenter Technology in a report on Monday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.33.

Carpenter Technology Trading Down 1.7 %

Shares of Carpenter Technology stock traded down $1.73 during midday trading on Monday, reaching $101.91. The company had a trading volume of 680,795 shares, compared to its average volume of 533,889. The firm has a market cap of $5.06 billion, a PE ratio of 39.54 and a beta of 1.47. The stock has a fifty day moving average price of $74.07 and a 200 day moving average price of $69.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. Carpenter Technology Co. has a fifty-two week low of $44.40 and a fifty-two week high of $104.85.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.25. The business had revenue of $684.90 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.38 earnings per share. On average, equities analysts anticipate that Carpenter Technology Co. will post 3.97 earnings per share for the current year.

Carpenter Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, April 23rd will be given 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 is Monday, April 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.79%. Carpenter Technology's dividend payout ratio is presently 30.42%.

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.

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