Fisher Asset Management LLC trimmed its stake in Carpenter Technology Co. (NYSE:CRS) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 428,692 shares of the basic materials company’s stock after selling 1,149 shares during the quarter. Fisher Asset Management LLC’s holdings in Carpenter Technology were worth $15,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC raised its holdings in shares of Carpenter Technology by 4.4% in the third quarter. Essex Investment Management Co. LLC now owns 31,374 shares of the basic materials company’s stock worth $1,849,000 after acquiring an additional 1,329 shares during the last quarter. Legal & General Group Plc grew its position in shares of Carpenter Technology by 2.3% in the third quarter. Legal & General Group Plc now owns 60,165 shares of the basic materials company’s stock valued at $3,546,000 after purchasing an additional 1,353 shares during the period. Teachers Advisors LLC grew its position in shares of Carpenter Technology by 1.0% in the third quarter. Teachers Advisors LLC now owns 133,240 shares of the basic materials company’s stock valued at $7,854,000 after purchasing an additional 1,368 shares during the period. Jane Street Group LLC grew its position in shares of Carpenter Technology by 37.0% in the third quarter. Jane Street Group LLC now owns 5,736 shares of the basic materials company’s stock valued at $338,000 after purchasing an additional 1,548 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Carpenter Technology by 12.5% in the third quarter. Pacer Advisors Inc. now owns 16,696 shares of the basic materials company’s stock valued at $984,000 after purchasing an additional 1,849 shares during the period. 92.92% of the stock is owned by institutional investors.

A number of brokerages have recently commented on CRS. Deutsche Bank set a $50.00 price objective on Carpenter Technology and gave the company a “hold” rating in a research report on Thursday, October 25th. ValuEngine downgraded Carpenter Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded Carpenter Technology from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Cowen reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Carpenter Technology in a research report on Thursday, December 6th. Finally, Longbow Research raised Carpenter Technology from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, December 11th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $56.00.

Shares of NYSE:CRS opened at $43.76 on Tuesday. The firm has a market capitalization of $2.08 billion, a PE ratio of 16.45 and a beta of 2.17. The company has a quick ratio of 1.23, a current ratio of 3.27 and a debt-to-equity ratio of 0.37. Carpenter Technology Co. has a 52 week low of $32.77 and a 52 week high of $61.49.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Tuesday, February 5th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, February 4th. Carpenter Technology’s dividend payout ratio is currently 32.00%.

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Carpenter Technology Company Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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