Raymond James & Associates Boosts Holdings in Carpenter Technology Co. (NYSE:CRS)

Raymond James & Associates increased its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,971 shares of the basic materials company’s stock after acquiring an additional 2,977 shares during the quarter. Raymond James & Associates owned about 0.24% of Carpenter Technology worth $19,305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC increased its position in shares of Carpenter Technology by 12.6% during the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 103 shares in the last quarter. GAMMA Investing LLC increased its position in Carpenter Technology by 9.2% during the second quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $177,000 after buying an additional 136 shares during the period. EverSource Wealth Advisors LLC increased its position in Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after buying an additional 178 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake 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 last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Carpenter Technology by 1.1% in the first quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock valued at $1,835,000 after acquiring an additional 281 shares during the period. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Stock Performance

Shares of CRS opened at $155.45 on Friday. The stock has a market capitalization of $7.71 billion, a P/E ratio of 59.10, a P/E/G ratio of 0.83 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $166.51. The company’s fifty day moving average is $150.28 and its two-hundred day moving average is $123.19.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.16. The business had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. On average, sell-side analysts predict that Carpenter Technology Co. will post 6.63 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is 30.42%.

Analyst Ratings Changes

Several research firms recently commented on CRS. BTIG Research upped their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research report 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. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.60.

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.