Pathway Financial Advisers LLC raised its position in Carpenter Technology Co. (NYSE:CRS - Free Report) by 15,857.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,777 shares of the basic materials company's stock after purchasing 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.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Whittier Trust Co. purchased a new position in Carpenter Technology in the first quarter valued at approximately $30,000. Kimelman & Baird LLC purchased a new position in Carpenter Technology in the 2nd quarter valued at approximately $33,000. National Bank of Canada FI purchased a new stake in shares of Carpenter Technology in the 2nd quarter worth about $49,000. EverSource Wealth Advisors LLC increased its stake in shares of 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. Finally, Covestor Ltd raised its holdings in shares of Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company's stock worth $59,000 after acquiring an additional 685 shares during the last quarter. Hedge funds and other institutional investors own 92.03% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have weighed in on CRS. 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 set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $139.60.
Get Our Latest Stock Report on CRS
Carpenter Technology Stock Down 2.0 %
Shares of NYSE CRS traded down $3.18 during trading on Wednesday, reaching $159.57. 585,982 shares of the stock were exchanged, compared to its average volume of 590,111. The business's 50-day moving average price is $151.42 and its 200 day moving average price is $125.27. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 60.67, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $166.67. 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 announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating 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 company 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 firm earned $0.88 earnings per share. The company's revenue was up 10.1% on a year-over-year basis. As a group, equities analysts forecast that Carpenter Technology Co. will post 6.63 EPS for the current fiscal year.
Carpenter Technology Announces Dividend
The company also recently declared 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. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Carpenter Technology's dividend payout ratio (DPR) is 30.42%.
Carpenter Technology Profile
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Free Report)
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.
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