Hanseatic Management Services Inc. Raises Holdings in Carpenter Technology Co. (NYSE:CRS)

Hanseatic Management Services Inc. increased its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 10,223.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,781 shares of the basic materials company's stock after acquiring an additional 5,725 shares during the period. Carpenter Technology makes up about 1.3% of Hanseatic Management Services Inc.'s investment portfolio, making the stock its 27th biggest position. Hanseatic Management Services Inc.'s holdings in Carpenter Technology were worth $923,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Advisor Resource Council acquired a new stake in Carpenter Technology during the 3rd quarter valued at $326,000. Roman Butler Fullerton & Co. acquired a new stake in Carpenter Technology during the 3rd quarter valued at $1,288,000. Forum Financial Management LP acquired a new stake in Carpenter Technology during the 3rd quarter valued at $231,000. Harbor Capital Advisors Inc. grew its holdings in Carpenter Technology by 76.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 71,339 shares of the basic materials company's stock valued at $11,384,000 after buying an additional 30,901 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in Carpenter Technology during the 3rd quarter valued at $476,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Carpenter Technology Trading Down 1.8 %

Shares of Carpenter Technology stock traded down $3.22 during trading hours on Thursday, reaching $174.88. 781,307 shares of the company's stock were exchanged, compared to its average volume of 593,866. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $179.18. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 0.78 and a beta of 1.46. The company has a fifty day moving average of $153.72 and a 200-day moving average of $128.46. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly 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. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 EPS. Sell-side analysts forecast that Carpenter Technology Co. will post 6.68 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology's dividend payout ratio (DPR) is currently 17.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRS. BTIG Research increased their target price on Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Benchmark reissued a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Carpenter Technology has an average rating of "Moderate Buy" and a consensus price target 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.