Carpenter Technology Co. (NYSE:CRS) Stake Raised by Tidal Investments LLC

Tidal Investments LLC raised its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 91.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,083 shares of the basic materials company's stock after buying an additional 10,094 shares during the period. Tidal Investments LLC's holdings in Carpenter Technology were worth $3,364,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company's stock worth $552,992,000 after acquiring an additional 1,108,963 shares during the period. Wolf Hill Capital Management LP acquired a new position in shares of Carpenter Technology during the second quarter worth $73,850,000. American Century Companies Inc. boosted its stake in shares of Carpenter Technology by 129.5% in 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 during the period. Assenagon Asset Management S.A. increased its stake in Carpenter Technology by 1,538.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company's stock worth $34,053,000 after buying an additional 200,364 shares during the period. Finally, Forest Avenue Capital Management LP acquired a new position in Carpenter Technology in the 3rd quarter worth $25,262,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRS has been the topic of several recent analyst reports. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research note on Friday, November 22nd. They issued an "overweight" rating and a $220.00 price target on the stock. Benchmark reiterated a "buy" rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, Carpenter Technology presently has an average rating of "Moderate Buy" and an average price target of $153.00.

Carpenter Technology Stock Performance

Shares of NYSE CRS traded down $3.08 during trading on Friday, reaching $174.09. The stock had a trading volume of 585,451 shares, compared to its average volume of 594,960. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The stock has a market cap of $8.68 billion, a PE ratio of 38.77, a P/E/G ratio of 0.90 and a beta of 1.52. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $198.24. The firm's 50 day moving average price is $173.18 and its two-hundred day moving average price is $144.14.

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 for the quarter, topping analysts' consensus estimates 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 company earned $0.88 earnings per share. The firm's revenue was up 10.1% compared to the same quarter last year. On average, research analysts forecast that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Tuesday, October 22nd. Carpenter Technology's dividend payout ratio (DPR) is presently 17.82%.

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.