Cinctive Capital Management LP purchased a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 27,471 shares of the basic materials company's stock, valued at approximately $4,384,000. Cinctive Capital Management LP owned 0.06% of Carpenter Technology as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Kimelman & Baird LLC bought a new stake in shares of Carpenter Technology during the second quarter worth approximately $33,000. nVerses Capital LLC bought a new position in Carpenter Technology during the third quarter worth about $64,000. Banque Cantonale Vaudoise bought a new stake in Carpenter Technology during the third quarter worth about $65,000. National Bank of Canada FI acquired a new position in Carpenter Technology during the second quarter valued at approximately $49,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock worth $53,000 after acquiring an additional 178 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on CRS. Benchmark reiterated a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They issued 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $153.00.
View Our Latest Stock Analysis on Carpenter Technology
Carpenter Technology Price Performance
Carpenter Technology stock traded down $2.80 during mid-day trading on Tuesday, hitting $191.97. 164,888 shares of the company traded hands, compared to its average volume of 590,648. The stock has a fifty day moving average price of $168.23 and a 200-day moving average price of $139.56. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 0.97 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 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 (NYSE:CRS - Get Free Report) last posted 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 during the quarter, compared to analyst estimates of $742.96 million. During the same period in the prior year, the business posted $0.88 earnings per share. Carpenter Technology's revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.
Carpenter Technology Announces Dividend
The business 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Carpenter Technology's payout ratio is presently 17.82%.
About Carpenter Technology
(
Free Report)
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.
Further Reading
Before you consider Carpenter Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Carpenter Technology wasn't on the list.
While Carpenter Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
