GAMMA Investing LLC Grows Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

GAMMA Investing LLC grew its stake in Carpenter Technology Co. (NYSE:CRS) by 17.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,457 shares of the basic materials company’s stock after purchasing an additional 357 shares during the period. GAMMA Investing LLC’s holdings in Carpenter Technology were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRS. Kimelman & Baird LLC acquired a new position in Carpenter Technology during the second quarter worth $33,000. nVerses Capital LLC purchased a new stake in shares of Carpenter Technology in the third quarter valued at about $64,000. Banque Cantonale Vaudoise acquired a new stake in Carpenter Technology during the third quarter worth about $65,000. National Bank of Canada FI purchased a new position in Carpenter Technology during the second quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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.

Carpenter Technology Stock Up 2.6 %

NYSE:CRS opened at $180.13 on Monday. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $198.24. The stock’s fifty day moving average is $177.24 and its two-hundred day moving average is $151.49. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 0.90 and a beta of 1.55. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. The firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. Carpenter Technology’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Research analysts anticipate that Carpenter Technology Co. will post 6.74 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, October 22nd. Carpenter Technology’s payout ratio is currently 17.82%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock. Benchmark restated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $153.00.

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.