Capital CS Group LLC Purchases Shares of 3,938 Carpenter Technology Co. (NYSE:CRS)

Capital CS Group LLC acquired a new position in shares of Carpenter Technology Co. (NYSE:CRS) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,938 shares of the basic materials company’s stock, valued at approximately $628,000. Carpenter Technology accounts for about 0.7% of Capital CS Group LLC’s portfolio, making the stock its 27th largest position.

Several other hedge funds have also modified their holdings of the stock. CWM LLC grew its position in Carpenter Technology by 12.6% during the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 103 shares during the period. GAMMA Investing LLC raised its holdings in Carpenter Technology by 9.2% in the second quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $177,000 after buying an additional 136 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after buying an additional 178 shares during the period. American International Group Inc. lifted its position in Carpenter Technology by 0.7% during the fourth quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock valued at $1,887,000 after buying an additional 188 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Carpenter Technology by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock worth $825,000 after buying an additional 215 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRS. BTIG Research lifted their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price on the stock. Benchmark raised their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 26th. TD Cowen boosted their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Northcoast Research restated a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a research note on Friday, June 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Carpenter Technology presently has an average rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Stock Up 3.8 %

CRS traded up $5.81 during trading on Friday, hitting $159.89. The company had a trading volume of 421,883 shares, compared to its average volume of 589,121. 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 company has a market cap of $7.93 billion, a PE ratio of 60.78, a P/E/G ratio of 0.89 and a beta of 1.45. The business has a 50-day moving average of $144.77 and a 200-day moving average of $114.13.

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

Carpenter Technology Announces Dividend

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

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.