Carpenter Technology Co. (NYSE:CRS) Stock Position Increased by Avala Global LP

Avala Global LP increased its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 21.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 423,700 shares of the basic materials company's stock after acquiring an additional 73,400 shares during the period. Carpenter Technology makes up about 4.5% of Avala Global LP's portfolio, making the stock its 7th biggest holding. Avala Global LP owned about 0.85% of Carpenter Technology worth $67,614,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRS. Comerica Bank raised its stake in shares of Carpenter Technology by 170.3% during the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company's stock valued at $4,812,000 after buying an additional 42,449 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Carpenter Technology by 9.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company's stock valued at $177,000 after buying an additional 136 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Carpenter Technology by 227.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 40,438 shares of the basic materials company's stock valued at $4,431,000 after buying an additional 28,098 shares during the last quarter. Naples Money Management LLC raised its stake in shares of Carpenter Technology by 1.1% during the 2nd quarter. Naples Money Management LLC now owns 26,628 shares of the basic materials company's stock valued at $2,848,000 after buying an additional 300 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Carpenter Technology by 12.6% during the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company's stock valued at $101,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.

Carpenter Technology Price Performance

CRS stock traded up $0.73 during trading on Monday, hitting $194.77. The stock had a trading volume of 413,863 shares, compared to its average volume of 591,865. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $198.24. The stock has a market capitalization of $9.71 billion, a P/E ratio of 43.22, a PEG ratio of 0.97 and a beta of 1.46. The company's 50-day moving average price is $167.49 and its two-hundred day moving average price is $138.96.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 18.01% and a net margin of 8.05%. 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 previous year, the firm posted $0.88 EPS. Carpenter Technology's revenue was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

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

Analysts Set New Price Targets

CRS has been the topic of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an "overweight" rating and a $220.00 target price on the stock. Benchmark restated a "buy" rating and set a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $153.00.

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.