OneDigital Investment Advisors LLC Trims Stock Position in Carpenter Technology Co. (NYSE:CRS)

OneDigital Investment Advisors LLC trimmed its stake in Carpenter Technology Co. (NYSE:CRS) by 33.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,223 shares of the basic materials company’s stock after selling 613 shares during the period. OneDigital Investment Advisors LLC’s holdings in Carpenter Technology were worth $208,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Carpenter Technology during the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC grew its position in Carpenter Technology by 109.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 127 shares during the last quarter. UMB Bank n.a. increased its stake in Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 191 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Carpenter Technology in the third quarter valued at about $80,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Carpenter Technology during the third quarter worth about $84,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Carpenter Technology from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday. Northcoast Research raised Carpenter Technology from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. Finally, BTIG Research set a $230.00 price target on Carpenter Technology in a report on Friday, January 31st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $168.00.

Carpenter Technology Trading Down 0.9 %

Shares of CRS stock opened at $197.23 on Wednesday. Carpenter Technology Co. has a 1-year low of $82.46 and a 1-year high of $213.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.80 and a quick ratio of 1.92. The business’s fifty day moving average price is $182.95 and its 200 day moving average price is $182.27. The firm has a market capitalization of $9.85 billion, a PE ratio of 37.21, a P/E/G ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.14. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. The business had revenue of $727.00 million during the quarter, compared to the consensus estimate of $729.67 million. During the same quarter last year, the firm posted $1.19 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology announced that its board has authorized a share repurchase program on Thursday, April 24th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Carpenter Technology’s payout ratio is 11.33%.

Carpenter Technology 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.