Victory Capital Management Inc. Purchases 8,095 Shares of Carpenter Technology Co. (NYSE:CRS)

Victory Capital Management Inc. increased its position in shares of Carpenter Technology Co. (NYSE:CRS) by 54.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,068 shares of the basic materials company’s stock after buying an additional 8,095 shares during the period. Victory Capital Management Inc.’s holdings in Carpenter Technology were worth $3,681,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of Carpenter Technology during the 3rd quarter worth $2,214,000. Entropy Technologies LP raised its stake in Carpenter Technology by 325.8% during the 3rd quarter. Entropy Technologies LP now owns 13,578 shares of the basic materials company’s stock valued at $2,167,000 after purchasing an additional 10,389 shares during the last quarter. WCM Investment Management LLC acquired a new position in Carpenter Technology during the 3rd quarter valued at $18,868,000. Versor Investments LP raised its stake in Carpenter Technology by 19.0% during the 3rd quarter. Versor Investments LP now owns 2,669 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 427 shares during the last quarter. Finally, Lisanti Capital Growth LLC raised its stake in Carpenter Technology by 29.3% during the 3rd quarter. Lisanti Capital Growth LLC now owns 49,315 shares of the basic materials company’s stock valued at $7,870,000 after purchasing an additional 11,180 shares during the last quarter. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Trading Up 5.7 %

Shares of CRS stock opened at $190.97 on Friday. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $192.34. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 42.53, a P/E/G ratio of 0.92 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The firm has a fifty day moving average of $162.86 and a 200-day moving average of $135.60.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. During the same quarter in the prior year, the company posted $0.88 EPS. The business’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Carpenter Technology Co. will post 6.61 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is currently 17.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BTIG Research upped their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark reiterated a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research note on Friday. They set an “overweight” rating and a $220.00 target price for the company. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and an average price target of $153.00.

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.