Entropy Technologies LP Increases Stock Position in Carpenter Technology Co. (NYSE:CRS)

Entropy Technologies LP lifted its position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 325.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,578 shares of the basic materials company's stock after acquiring an additional 10,389 shares during the quarter. Entropy Technologies LP's holdings in Carpenter Technology were worth $2,167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kimelman & Baird LLC bought a new stake in Carpenter Technology during the 2nd quarter worth approximately $33,000. nVerses Capital LLC bought a new stake in Carpenter Technology during the third quarter valued at $64,000. National Bank of Canada FI purchased a new position in Carpenter Technology during the second quarter worth about $49,000. EverSource Wealth Advisors LLC raised its holdings in shares of Carpenter Technology by 58.0% in 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. Finally, Covestor Ltd boosted its position in shares of Carpenter Technology by 469.2% during the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company's stock valued at $59,000 after acquiring an additional 685 shares during the last quarter. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Trading Down 0.2 %

Shares of NYSE:CRS traded down $0.39 during midday trading on Wednesday, hitting $176.31. 214,689 shares of the stock traded hands, compared to its average volume of 590,560. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $8.79 billion, a PE ratio of 39.63, a P/E/G ratio of 0.89 and a beta of 1.46. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $182.52. The business's 50 day moving average is $155.90 and its two-hundred day moving average is $131.17.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.15. The company had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. As a group, research analysts forecast that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors 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 0.45%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology's payout ratio is currently 17.82%.

Analysts Set New Price Targets

CRS has been the topic of a number of research analyst reports. BTIG Research increased their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Benchmark restated a "buy" rating and issued 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 four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $139.60.

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.