Cwm LLC Increases Stake in Carpenter Technology Co. (NYSE:CRS)

Cwm LLC lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 59.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,464 shares of the basic materials company’s stock after buying an additional 543 shares during the quarter. Cwm LLC’s holdings in Carpenter Technology were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CRS. Whittier Trust Co. purchased a new stake in Carpenter Technology in the first quarter worth about $30,000. Kimelman & Baird LLC purchased a new stake in Carpenter Technology in the second quarter worth about $33,000. National Bank of Canada FI purchased a new stake in Carpenter Technology in the second quarter worth about $49,000. EverSource Wealth Advisors LLC grew its holdings in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 178 shares during the period. Finally, Covestor Ltd grew its holdings in Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 685 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 stock. BTIG Research upped their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carpenter Technology in a report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target on the stock. Finally, Benchmark increased 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. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Stock Down 1.8 %

Shares of Carpenter Technology stock opened at $155.80 on Wednesday. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 59.24, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The company’s 50 day moving average is $149.61 and its 200 day moving average is $122.21. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month 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 issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. The company had revenue of $798.70 million for the quarter, compared to the consensus estimate of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Research analysts anticipate that Carpenter Technology Co. will post 6.63 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Carpenter Technology’s dividend payout ratio (DPR) is 30.42%.

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.