Wellington Management Group LLP Trims Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Wellington Management Group LLP cut its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 8.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 750,260 shares of the basic materials company’s stock after selling 67,157 shares during the quarter. Wellington Management Group LLP’s holdings in Carpenter Technology were worth $33,582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Carpenter Technology by 1.7% during the third quarter. Vanguard Group Inc. now owns 5,644,507 shares of the basic materials company’s stock worth $175,769,000 after buying an additional 93,159 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Carpenter Technology by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,586,145 shares of the basic materials company’s stock worth $132,472,000 after buying an additional 140,861 shares in the last quarter. State Street Corp boosted its holdings in Carpenter Technology by 35.7% in the first quarter. State Street Corp now owns 3,358,268 shares of the basic materials company’s stock valued at $140,980,000 after purchasing an additional 883,239 shares in the last quarter. Invesco Ltd. boosted its holdings in Carpenter Technology by 33.9% in the first quarter. Invesco Ltd. now owns 1,453,421 shares of the basic materials company’s stock valued at $61,014,000 after purchasing an additional 368,093 shares in the last quarter. Finally, FMR LLC boosted its holdings in Carpenter Technology by 49.6% in the first quarter. FMR LLC now owns 1,013,937 shares of the basic materials company’s stock valued at $45,384,000 after purchasing an additional 336,386 shares in the last quarter. 91.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRS. Northcoast Research began coverage on Carpenter Technology in a report on Friday, August 25th. They issued a “buy” rating and a $73.00 price target for the company. StockNews.com began coverage on Carpenter Technology in a report on Thursday, August 17th. They issued a “hold” rating for the company. TheStreet raised Carpenter Technology from a “c+” rating to a “b” rating in a report on Tuesday, June 20th. Finally, TD Cowen upped their price target on Carpenter Technology from $60.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Carpenter Technology Price Performance

CRS stock opened at $62.03 on Friday. The company has a market capitalization of $3.03 billion, a P/E ratio of 53.94 and a beta of 1.78. Carpenter Technology Co. has a twelve month low of $31.02 and a twelve month high of $64.60. The business has a 50 day simple moving average of $58.33 and a 200-day simple moving average of $51.36. The company has a current ratio of 2.79, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. Carpenter Technology had a return on equity of 4.21% and a net margin of 2.21%. The business had revenue of $758.10 million during the quarter, compared to the consensus estimate of $743.07 million. The firm’s revenue was up 34.5% compared to the same quarter last year. As a group, equities analysts anticipate that Carpenter Technology Co. will post 3.48 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Monday, August 21st. Carpenter Technology’s dividend payout ratio (DPR) is presently 69.57%.

Insider Transactions at Carpenter Technology

In other news, Director Steven E. Karol sold 810 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $60.55, for a total transaction of $49,045.50. Following the completion of the sale, the director now owns 229,733 shares in the company, valued at $13,910,333.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Steven E. Karol sold 810 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $60.55, for a total transaction of $49,045.50. Following the completion of the sale, the director now owns 229,733 shares in the company, valued at $13,910,333.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian J. Malloy sold 10,372 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.69, for a total value of $619,104.68. Following the sale, the senior vice president now owns 51,551 shares of the company’s stock, valued at approximately $3,077,079.19. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

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.