nVerses Capital LLC Invests $64,000 in Carpenter Technology Co. (NYSE:CRS)

nVerses Capital LLC bought a new position in Carpenter Technology Co. (NYSE:CRS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 400 shares of the basic materials company’s stock, valued at approximately $64,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. American International Group Inc. grew 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 worth $1,887,000 after buying an additional 188 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Carpenter Technology by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock valued at $825,000 after buying an additional 215 shares during the period. Hennessy Advisors Inc. raised its stake in shares of Carpenter Technology by 19.2% in the 1st quarter. Hennessy Advisors Inc. now owns 461,500 shares of the basic materials company’s stock valued at $32,960,000 after acquiring an additional 74,400 shares during the period. Wealthstar Advisors LLC boosted its position in shares of Carpenter Technology by 22.3% in the first quarter. Wealthstar Advisors LLC now owns 5,231 shares of the basic materials company’s stock worth $374,000 after buying an additional 954 shares during the period. Finally, New Century Financial Group LLC boosted its holdings in Carpenter Technology by 30.3% in the 1st quarter. New Century Financial Group LLC now owns 16,737 shares of the basic materials company’s stock worth $1,195,000 after acquiring an additional 3,895 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

Carpenter Technology Price Performance

Shares of CRS opened at $158.68 on Tuesday. 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 $7.87 billion, a P/E ratio of 60.75, a PEG ratio of 0.83 and a beta of 1.45. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $166.51. The stock has a fifty day moving average price of $148.92 and a 200 day moving average price of $121.09.

Carpenter Technology (NYSE:CRS) last released 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 during 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 company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, research analysts forecast that Carpenter Technology Co. will post 6.63 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. 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 presently 30.42%.

About Carpenter Technology

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.