Holocene Advisors LP Takes $17.34 Million Position in Carpenter Technology Co. (NYSE:CRS)

Holocene Advisors LP acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 108,643 shares of the basic materials company's stock, valued at approximately $17,337,000. Holocene Advisors LP owned approximately 0.22% of Carpenter Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CRS. Kimelman & Baird LLC purchased a new position in Carpenter Technology in the 2nd quarter worth about $33,000. National Bank of Canada FI purchased a new position in Carpenter Technology during the 2nd quarter valued at about $49,000. EverSource Wealth Advisors LLC grew its stake in Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 178 shares in the last quarter. nVerses Capital LLC purchased a new position in Carpenter Technology during the 3rd quarter valued at about $64,000. Finally, Banque Cantonale Vaudoise purchased a new position in Carpenter Technology during the 3rd quarter valued at about $65,000. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Stock Performance

Shares of CRS stock traded up $1.69 during trading hours on Wednesday, reaching $194.39. 434,008 shares of the company's stock were exchanged, compared to its average volume of 590,971. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $198.24. The stock has a market capitalization of $9.69 billion, a P/E ratio of 42.91, a P/E/G ratio of 0.97 and a beta of 1.52. The business has a fifty day moving average price of $168.88 and a 200-day moving average price of $140.14. 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 - Get Free Report) last released 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. The business had revenue of $717.60 million for the quarter, compared to analysts' expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. Carpenter Technology's quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. Analysts predict that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology's dividend payout ratio (DPR) is 17.82%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRS. Benchmark reiterated a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a report on Friday, November 22nd. They set an "overweight" rating and a $220.00 price target for the company. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, Carpenter Technology currently has an average rating of "Moderate Buy" and an average target price of $153.00.

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.