Assenagon Asset Management S.A. Purchases 200,364 Shares of Carpenter Technology Co. (NYSE:CRS)

Assenagon Asset Management S.A. increased its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 1,538.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,391 shares of the basic materials company's stock after purchasing an additional 200,364 shares during the quarter. Assenagon Asset Management S.A. owned 0.43% of Carpenter Technology worth $34,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kimelman & Baird LLC purchased a new stake in shares of Carpenter Technology during the second quarter valued at $33,000. nVerses Capital LLC acquired a new position in shares of Carpenter Technology in the third quarter worth about $64,000. Whittier Trust Co. purchased a new position in shares of Carpenter Technology in the first quarter worth approximately $30,000. National Bank of Canada FI purchased a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $49,000. Finally, EverSource Wealth Advisors LLC grew its position in Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock worth $53,000 after purchasing an additional 178 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports 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 restated a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $139.60.

Carpenter Technology Stock Up 0.7 %

NYSE:CRS traded up $1.07 during mid-day trading on Friday, reaching $155.45. The stock had a trading volume of 893,850 shares, compared to its average volume of 587,593. The stock has a market cap of $7.71 billion, a P/E ratio of 59.10, a PEG ratio of 0.83 and a beta of 1.45. The business's 50 day moving average is $150.28 and its 200 day moving average is $123.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $166.51.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.57 by $0.16. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same quarter in the prior year, the business posted $0.88 EPS. Carpenter Technology's quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts predict that Carpenter Technology Co. will post 6.63 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. Shareholders of record on Tuesday, October 22nd will be given a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Carpenter Technology's dividend payout ratio is currently 30.42%.

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.