Emerald Advisers LLC Has $59.05 Million Holdings in Carpenter Technology Co. (NYSE:CRS)

Emerald Advisers LLC reduced its stake in Carpenter Technology Co. (NYSE:CRS - Free Report) by 27.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 370,006 shares of the basic materials company's stock after selling 141,198 shares during the quarter. Carpenter Technology comprises 2.3% of Emerald Advisers LLC's holdings, making the stock its 3rd largest holding. Emerald Advisers LLC owned about 0.75% of Carpenter Technology worth $59,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRS. Whittier Trust Co. acquired a new position in shares of Carpenter Technology in the first quarter worth approximately $30,000. Kimelman & Baird LLC acquired a new position in Carpenter Technology in the second quarter valued at approximately $33,000. National Bank of Canada FI acquired a new position in Carpenter Technology in the second quarter valued at approximately $49,000. EverSource Wealth Advisors LLC lifted its stake in Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock valued at $53,000 after buying an additional 178 shares during the period. Finally, Covestor Ltd lifted its stake in Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company's stock valued at $59,000 after buying an additional 685 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. BTIG Research boosted their price target on Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Benchmark reissued a "buy" rating and issued a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $139.60.

Carpenter Technology Stock Up 3.9 %

Shares of NYSE:CRS traded up $5.86 during trading on Friday, reaching $155.36. 759,560 shares of the stock were exchanged, compared to its average volume of 607,404. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $166.67. The stock has a fifty day moving average of $151.78 and a two-hundred day moving average of $126.33. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46.

Carpenter Technology (NYSE:CRS - Get Free Report) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same period in the prior year, the firm earned $0.88 earnings per share. Carpenter Technology's revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts anticipate that Carpenter Technology Co. will post 6.68 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.51%. Carpenter Technology's dividend payout ratio (DPR) is currently 17.82%.

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.