Orser Capital Management LLC Sells 280 Shares of Carpenter Technology Co. (NYSE:CRS)

Orser Capital Management LLC lowered its position in shares of Carpenter Technology Co. (NYSE:CRS) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,413 shares of the basic materials company’s stock after selling 280 shares during the quarter. Carpenter Technology makes up approximately 3.8% of Orser Capital Management LLC’s holdings, making the stock its 8th biggest holding. Orser Capital Management LLC owned approximately 0.06% of Carpenter Technology worth $5,013,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. acquired a new position in shares of Carpenter Technology in the 1st quarter valued at $30,000. Kimelman & Baird LLC acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at $33,000. Westend Capital Management LLC acquired a new position in shares of Carpenter Technology in the 1st quarter valued at $36,000. National Bank of Canada FI acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at $49,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

CRS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carpenter Technology in a report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price target on the stock. Benchmark lifted 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. 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. TD Cowen lifted their target price on shares of Carpenter Technology from $116.00 to $125.00 and gave the company 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 report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Carpenter Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

Carpenter Technology Stock Up 3.8 %

Shares of NYSE:CRS traded up $5.81 during midday trading on Friday, hitting $159.89. 421,883 shares of the company’s stock traded hands, compared to its average volume of 589,121. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. 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 firm’s fifty day moving average price is $144.77 and its two-hundred day moving average price is $114.13. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $166.51.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results 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 net margin of 6.76% and a return on equity of 15.81%. The firm had revenue of $798.70 million for the quarter, compared to the consensus estimate of $763.76 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Carpenter Technology Co. will post 6.09 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

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

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.