Pathway Financial Advisers LLC Has $3.79 Million Holdings in Carpenter Technology Co. (NYSE:CRS)

Pathway Financial Advisers LLC lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 15,857.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 23,777 shares of the basic materials company's stock after buying an additional 23,628 shares during the quarter. Pathway Financial Advisers LLC's holdings in Carpenter Technology were worth $3,794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Carpenter Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company's stock worth $406,096,000 after buying an additional 15,564 shares during the period. American Century Companies Inc. increased its position in Carpenter Technology by 129.5% during the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock worth $93,044,000 after acquiring an additional 479,047 shares during the period. Wolf Hill Capital Management LP acquired a new stake in Carpenter Technology in the 2nd quarter worth about $73,850,000. Bayberry Capital Partners LP acquired a new stake in Carpenter Technology in the 1st quarter worth about $35,887,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Carpenter Technology by 1,538.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company's stock valued at $34,053,000 after purchasing an additional 200,364 shares during the period. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Price Performance

CRS stock traded up $1.10 during mid-day trading on Friday, hitting $155.47. The stock had a trading volume of 893,850 shares, compared to its average volume of 587,593. The firm has a fifty day simple moving average of $150.28 and a 200 day simple moving average of $123.49. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $166.51. The company has a current ratio of 3.41, a quick ratio of 1.84 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $7.71 billion, a P/E ratio of 59.11, a P/E/G ratio of 0.83 and a beta of 1.45.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.16. The business 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 15.81% and a net margin of 6.76%. Carpenter Technology's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. As a group, research analysts forecast that Carpenter Technology Co. will post 6.63 EPS for the current year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology's dividend payout ratio (DPR) is 30.42%.

Analyst Ratings Changes

CRS has been the subject of a number of analyst reports. BTIG Research lifted their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a research 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 note on Friday. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, Carpenter Technology has a consensus rating of "Moderate Buy" and an average target price of $139.60.

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.