Intech Investment Management LLC Buys 15,228 Shares of Carpenter Technology Co. (NYSE:CRS)

Intech Investment Management LLC grew its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 302.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,261 shares of the basic materials company's stock after buying an additional 15,228 shares during the quarter. Intech Investment Management LLC's holdings in Carpenter Technology were worth $3,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kimelman & Baird LLC acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at approximately $33,000. nVerses Capital LLC bought a new stake in shares of Carpenter Technology during the 3rd quarter valued at approximately $64,000. Banque Cantonale Vaudoise bought a new stake in shares of Carpenter Technology during the 3rd quarter valued at approximately $65,000. National Bank of Canada FI bought a new stake in shares of Carpenter Technology during the 2nd quarter valued at approximately $49,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 178 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CRS shares. Benchmark reaffirmed a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. BTIG Research boosted their target price 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. Finally, JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a report on Friday. They set an "overweight" rating and a $220.00 target price on the stock. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $153.00.

Carpenter Technology Stock Up 5.7 %

Shares of Carpenter Technology stock traded up $10.26 during trading on Friday, reaching $190.97. 1,076,438 shares of the company traded hands, compared to its average volume of 635,837. 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 1-year low of $58.87 and a 1-year high of $192.34. The company has a 50 day moving average price of $162.86 and a 200-day moving average price of $135.83. The firm has a market capitalization of $9.52 billion, a PE ratio of 42.53, a P/E/G ratio of 0.92 and a beta of 1.46.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $742.96 million. During the same quarter in the previous year, the company earned $0.88 EPS. Carpenter Technology's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts expect that Carpenter Technology Co. will post 6.61 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders 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 yield of 0.42%. Carpenter Technology's payout ratio is 17.82%.

Carpenter Technology 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.