Fisher Asset Management LLC Purchases 13,815 Shares of Carpenter Technology Co. (NYSE:CRS)

Fisher Asset Management LLC boosted its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 364,312 shares of the basic materials company's stock after purchasing an additional 13,815 shares during the quarter. Fisher Asset Management LLC owned about 0.73% of Carpenter Technology worth $58,137,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CRS. Wolf Hill Capital Management LP purchased a new stake in Carpenter Technology during the second quarter valued at $73,850,000. American Century Companies Inc. raised its stake in Carpenter Technology by 129.5% during the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock valued at $93,044,000 after purchasing an additional 479,047 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Carpenter Technology by 1,538.1% in the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company's stock valued at $34,053,000 after acquiring an additional 200,364 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Carpenter Technology in the second quarter valued at $13,248,000. Finally, WCM Investment Management LLC purchased a new stake in shares of Carpenter Technology in the third quarter valued at $18,868,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRS. Benchmark reissued a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research note on Friday. They issued an "overweight" rating and a $220.00 target price on the stock. Finally, BTIG Research increased 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. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $153.00.

Carpenter Technology Stock Up 0.5 %

Carpenter Technology stock traded up $1.05 during midday trading on Tuesday, hitting $196.14. 536,265 shares of the company's stock were exchanged, compared to its average volume of 595,010. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $198.24. The firm has a 50-day moving average of $163.94 and a two-hundred day moving average of $136.46. The company has a market cap of $9.78 billion, a PE ratio of 43.68, a P/E/G ratio of 0.97 and a beta of 1.46.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued 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. 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 for the quarter, compared to analysts' expectations of $742.96 million. During the same period in the prior year, the business earned $0.88 EPS. The firm's quarterly revenue was up 10.1% on a year-over-year basis. As a group, analysts expect that Carpenter Technology Co. will post 6.61 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

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

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.