Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Creative Planning

Creative Planning grew its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 55.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,558 shares of the basic materials company's stock after acquiring an additional 4,100 shares during the quarter. Creative Planning's holdings in Carpenter Technology were worth $1,844,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Whittier Trust Co. acquired a new stake in shares of Carpenter Technology during the first quarter worth about $30,000. Kimelman & Baird LLC acquired a new stake in shares of Carpenter Technology during the second quarter worth about $33,000. National Bank of Canada FI acquired a new stake in shares of Carpenter Technology during the second quarter worth about $49,000. EverSource Wealth Advisors LLC lifted its holdings 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 during the period. Finally, Covestor Ltd lifted its holdings in shares of Carpenter Technology by 469.2% during the first quarter. Covestor Ltd now owns 831 shares of the basic materials company's stock worth $59,000 after purchasing an additional 685 shares during the period. Institutional investors and hedge funds own 92.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CRS shares. BTIG Research boosted their price target on Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Benchmark reissued a "buy" rating and issued a $175.00 price target on shares of Carpenter Technology in a report on Friday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $139.60.

Carpenter Technology Price Performance

Shares of CRS traded down $3.30 during trading hours on Tuesday, hitting $162.74. 773,548 shares of the stock were exchanged, compared to its average volume of 590,342. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $166.67. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 61.88, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The stock's 50-day moving average price is $151.10 and its two-hundred day moving average price is $125.03.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.58 by $0.15. The firm had revenue of $717.60 million during the quarter, compared to analysts' expectations of $742.96 million. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. Research analysts expect that Carpenter Technology Co. will post 6.63 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology's dividend payout ratio (DPR) is currently 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.