Cavalier Investments LLC Makes New Investment in Carpenter Technology Co. (NYSE:CRS)

Cavalier Investments LLC bought a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,658 shares of the basic materials company's stock, valued at approximately $2,499,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRS. CWM LLC grew its position in shares of Carpenter Technology by 12.6% in the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company's stock valued at $101,000 after buying an additional 103 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Carpenter Technology by 9.2% during the second quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company's stock worth $177,000 after purchasing an additional 136 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Carpenter Technology by 58.0% during the second 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. Private Advisor Group LLC lifted its holdings in shares of Carpenter Technology by 3.8% in the 3rd quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company's stock valued at $846,000 after purchasing an additional 196 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Carpenter Technology by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company's stock valued at $825,000 after purchasing an additional 215 shares during the period. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on CRS shares. Benchmark reaffirmed a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday. BTIG Research lifted their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Carpenter Technology currently has an average rating of "Moderate Buy" and an average target price of $139.60.

Carpenter Technology Stock Performance

CRS traded up $10.78 on Monday, hitting $166.25. 975,625 shares of the company traded hands, compared to its average volume of 589,459. The company has a 50 day moving average of $150.68 and a 200-day moving average of $124.43. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $166.67. The stock has a market capitalization of $8.25 billion, a PE ratio of 63.21, a PEG ratio of 0.83 and a beta of 1.45. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43.

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 the consensus estimate of $1.58 by $0.15. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. During the same period last year, the company earned $0.88 earnings per share. The company's revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts anticipate that Carpenter Technology Co. will post 6.63 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology's payout ratio is 30.42%.

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.