Carpenter Technology Co. (NYSE:CRS) Stake Cut by Sei Investments Co.

May 19, 2023

Sei Investments Co. reduced its holdings in Carpenter Technology Co. (NYSE:CRS - Get Rating) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,232 shares of the basic materials company's stock after selling 9,861 shares during the period. Sei Investments Co. owned about 0.15% of Carpenter Technology worth $2,705,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. LPL Financial LLC lifted its position in shares of Carpenter Technology by 1.0% during the 4th quarter. LPL Financial LLC now owns 21,039 shares of the basic materials company's stock worth $777,000 after buying an additional 204 shares during the period. PNC Financial Services Group Inc. raised its position in Carpenter Technology by 0.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 63,867 shares of the basic materials company's stock valued at $2,359,000 after purchasing an additional 345 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Carpenter Technology by 2.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,226 shares of the basic materials company's stock valued at $369,000 after purchasing an additional 361 shares during the last quarter. JB Capital LLC increased its stake in shares of Carpenter Technology by 2.5% in the 4th quarter. JB Capital LLC now owns 15,405 shares of the basic materials company's stock valued at $569,000 after buying an additional 379 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Carpenter Technology by 0.3% during the second quarter. Legal & General Group Plc now owns 141,295 shares of the basic materials company's stock worth $3,943,000 after purchasing an additional 392 shares during the period. 92.28% of the stock is owned by hedge funds and other institutional investors.

Shares of Carpenter Technology stock opened at $51.84 on Friday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 123.43 and a beta of 1.76. The stock's 50-day moving average is $47.53 and its 200-day moving average is $44.97. Carpenter Technology Co. has a one year low of $24.76 and a one year high of $54.89. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.45 and a quick ratio of 1.14.

Carpenter Technology (NYSE:CRS - Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. Carpenter Technology had a return on equity of 1.35% and a net margin of 0.87%. The company had revenue of $690.10 million for the quarter, compared to analyst estimates of $632.50 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The company's quarterly revenue was up 41.1% compared to the same quarter last year. Equities analysts predict that Carpenter Technology Co. will post 1.04 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Tuesday, May 2nd were paid a dividend of $0.20 per share. The ex-dividend date was Monday, May 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.54%. Carpenter Technology's dividend payout ratio (DPR) is presently 190.48%.

Separately, StockNews.com began coverage on Carpenter Technology in a report on Thursday, May 18th. They set a "hold" rating on the stock.

Carpenter Technology Corp. engages in the manufacturing, fabrication, and distribution of specialty metals. It operates through the Specialty Alloys Operations and Performance Engineered Products segments. The Specialty Alloys Operations segment is composed of its major premium alloy and stainless-steel manufacturing operations.

Want to see what other hedge funds are holding CRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carpenter Technology Co. (NYSE:CRS - Get Rating).

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