Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lifted its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 15,857.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,777 shares of the basic materials company's stock after purchasing an additional 23,628 shares during the period. Pathway Financial Advisers LLC's holdings in Carpenter Technology were worth $3,794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. bought a new position in shares of Carpenter Technology during the 1st quarter worth $30,000. Kimelman & Baird LLC purchased a new position in Carpenter Technology during the 2nd quarter valued at about $33,000. National Bank of Canada FI bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $49,000. EverSource Wealth Advisors LLC lifted its position in shares of Carpenter Technology by 58.0% in 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 during the period. Finally, Covestor Ltd boosted its stake 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 valued at $59,000 after purchasing an additional 685 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Down 1.1 %

Shares of CRS traded down $1.84 during midday trading on Wednesday, hitting $160.91. 184,201 shares of the company's stock traded hands, compared to its average volume of 588,408. 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 stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 61.88, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $166.67. The firm's fifty day moving average is $151.10 and its 200-day moving average is $125.03.

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

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Carpenter Technology's payout ratio is currently 30.42%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BTIG Research upped their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock 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 note on Friday, October 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $139.60.

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.