Landscape Capital Management L.L.C. Invests $615,000 in Carpenter Technology Co. (NYSE:CRS)

Landscape Capital Management L.L.C. purchased a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,625 shares of the basic materials company's stock, valued at approximately $615,000.

Several other hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in Carpenter Technology during the fourth quarter worth $25,000. CIBC Private Wealth Group LLC increased its holdings in Carpenter Technology by 109.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 243 shares of the basic materials company's stock worth $45,000 after buying an additional 127 shares during the period. UMB Bank n.a. increased its holdings in Carpenter Technology by 169.0% in the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock valued at $52,000 after buying an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Carpenter Technology in the third quarter worth about $80,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Carpenter Technology during the 3rd quarter worth about $84,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRS has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Carpenter Technology from $235.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a research report on Wednesday. Finally, BTIG Research set a $230.00 price objective on Carpenter Technology in a research note on Friday, January 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $167.17.

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Carpenter Technology Price Performance

Shares of Carpenter Technology stock traded down $2.41 on Friday, hitting $165.35. 126,733 shares of the company were exchanged, compared to its average volume of 731,913. Carpenter Technology Co. has a 1-year low of $74.21 and a 1-year high of $213.66. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 0.93 and a beta of 1.28. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $185.92 and a 200 day moving average price of $180.28.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. As a group, sell-side analysts predict that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Carpenter Technology's dividend payout ratio (DPR) is 15.09%.

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.