Carpenter Technology Co. (NYSE:CRS) is Roubaix Capital LLC's 6th Largest Position

Roubaix Capital LLC decreased its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 21.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 75,451 shares of the basic materials company's stock after selling 20,607 shares during the period. Carpenter Technology comprises about 3.7% of Roubaix Capital LLC's investment portfolio, making the stock its 6th biggest holding. Roubaix Capital LLC owned 0.15% of Carpenter Technology worth $5,342,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in shares of Carpenter Technology by 322.5% during the fourth quarter. Fifth Third Bancorp now owns 1,162 shares of the basic materials company's stock worth $82,000 after purchasing an additional 887 shares during the period. NBC Securities Inc. purchased a new position in shares of Carpenter Technology during the 3rd quarter valued at $91,000. GAMMA Investing LLC acquired a new position in shares of Carpenter Technology in the fourth quarter worth $100,000. Strs Ohio raised its holdings in shares of Carpenter Technology by 400.0% during the third quarter. Strs Ohio now owns 2,500 shares of the basic materials company's stock worth $168,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Carpenter Technology during the third quarter valued at $202,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

Shares of CRS stock traded down $1.44 during trading on Friday, reaching $104.67. The company had a trading volume of 442,602 shares, compared to its average volume of 765,224. The firm's 50 day simple moving average is $77.95 and its two-hundred day simple moving average is $70.60. Carpenter Technology Co. has a one year low of $44.40 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.20 and a quick ratio of 1.45. The company has a market capitalization of $5.19 billion, a PE ratio of 39.80 and a beta of 1.47.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data 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. Carpenter Technology had a net margin of 4.83% and a return on equity of 12.75%. The business had revenue of $684.90 million during the quarter, compared to analysts' expectations of $707.73 million. During the same period in the previous year, the company earned $0.38 earnings per share. Carpenter Technology's revenue for the quarter was down .8% on a year-over-year basis. Sell-side analysts forecast that Carpenter Technology Co. will post 4.18 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. Stockholders of record on Tuesday, April 23rd will be given 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 0.76%. The ex-dividend date of this dividend is Monday, April 22nd. Carpenter Technology's dividend payout ratio (DPR) is currently 30.42%.

Insider Transactions at Carpenter Technology

In other Carpenter Technology news, VP Elizabeth A. Socci sold 802 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $102.11, for a total value of $81,892.22. Following the sale, the vice president now owns 11,509 shares of the company's stock, valued at approximately $1,175,183.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Marshall D. Akins sold 4,358 shares of the company's stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $102.23, for a total transaction of $445,518.34. Following the completion of the transaction, the vice president now owns 23,014 shares of the company's stock, valued at $2,352,721.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Elizabeth A. Socci sold 802 shares of Carpenter Technology stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $102.11, for a total value of $81,892.22. Following the sale, the vice president now directly owns 11,509 shares in the company, valued at $1,175,183.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,160 shares of company stock worth $3,645,081. Company insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CRS shares. Northcoast Research reaffirmed a "neutral" rating on shares of Carpenter Technology in a research report on Monday, May 6th. Benchmark raised their price objective on shares of Carpenter Technology from $100.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, TD Cowen boosted their target price on shares of Carpenter Technology from $90.00 to $116.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Carpenter Technology currently has an average rating of "Moderate Buy" and a consensus target price of $109.67.

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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