Sei Investments Co. Sells 14,039 Shares of Carpenter Technology Co. (NYSE:CRS)

Sei Investments Co. trimmed its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 19.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,327 shares of the basic materials company’s stock after selling 14,039 shares during the quarter. Sei Investments Co. owned approximately 0.12% of Carpenter Technology worth $6,501,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Carpenter Technology in the 4th quarter valued at $22,901,000. TFO Wealth Partners LLC grew its stake in Carpenter Technology by 213,900.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,140 shares of the basic materials company’s stock valued at $152,000 after purchasing an additional 2,139 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Carpenter Technology in the fourth quarter worth about $381,000. Intrinsic Edge Capital Management LLC raised its holdings in Carpenter Technology by 126.0% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 323,893 shares of the basic materials company’s stock worth $22,932,000 after purchasing an additional 180,606 shares in the last quarter. Finally, XML Financial LLC bought a new stake in shares of Carpenter Technology in the 4th quarter valued at about $425,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of CRS opened at $159.75 on Tuesday. The company’s fifty day moving average price is $142.61 and its 200-day moving average price is $112.23. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $166.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84. The firm has a market capitalization of $7.92 billion, a PE ratio of 60.74, a price-to-earnings-growth ratio of 0.89 and a beta of 1.45.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. During the same period last year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Carpenter Technology Co. will post 6.09 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Carpenter Technology’s dividend payout ratio (DPR) is presently 30.42%.

Analyst Ratings Changes

CRS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carpenter Technology in a research note on Tuesday, June 25th. They set a “buy” rating and a $144.00 price objective for the company. Northcoast Research reiterated a “sell” rating and set a $89.00 price objective on shares of Carpenter Technology in a report on Friday, June 14th. TD Cowen raised their price objective on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Benchmark upped their target price on Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, BTIG Research raised their price target on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.60.

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.