Carpenter Technology Co. (NYSE:CRS) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers increased its position in shares of Carpenter Technology Co. (NYSE:CRS) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,119 shares of the basic materials company’s stock after buying an additional 506 shares during the quarter. Cetera Investment Advisers’ holdings in Carpenter Technology were worth $1,218,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Carpenter Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock worth $406,096,000 after purchasing an additional 15,564 shares during the period. American Century Companies Inc. grew its stake in Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after buying an additional 479,047 shares during the last quarter. Wolf Hill Capital Management LP acquired a new stake in Carpenter Technology during the 2nd quarter worth $73,850,000. Bayberry Capital Partners LP acquired a new position in Carpenter Technology in the 1st quarter valued at about $35,887,000. Finally, Hennessy Advisors Inc. lifted its holdings in shares of Carpenter Technology by 19.2% during the first quarter. Hennessy Advisors Inc. now owns 461,500 shares of the basic materials company’s stock worth $32,960,000 after purchasing an additional 74,400 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

Shares of NYSE CRS opened at $159.56 on Thursday. The firm’s 50-day simple moving average is $148.14 and its 200 day simple moving average is $119.53. The stock has a market cap of $7.92 billion, a P/E ratio of 60.67, a P/E/G ratio of 0.83 and a beta of 1.45. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $166.51. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43.

Carpenter Technology (NYSE:CRS) last posted 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. The firm had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. Equities analysts expect that Carpenter Technology Co. will post 6.63 EPS for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.50%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s payout ratio is currently 30.42%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRS shares. BTIG Research lifted their price target on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology in a research note on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target on the stock. Finally, Benchmark lifted their price target on Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and an average target price of $139.60.

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.