Roman Butler Fullerton & Co. Purchases New Shares in Carpenter Technology Co. (NYSE:CRS)

Roman Butler Fullerton & Co. acquired a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,249 shares of the basic materials company's stock, valued at approximately $1,288,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Forum Financial Management LP acquired a new position in shares of Carpenter Technology in the third quarter worth $231,000. Harbor Capital Advisors Inc. lifted its position in shares of Carpenter Technology by 76.4% in the third quarter. Harbor Capital Advisors Inc. now owns 71,339 shares of the basic materials company's stock worth $11,384,000 after buying an additional 30,901 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in Carpenter Technology in the 3rd quarter worth approximately $476,000. First Trust Direct Indexing L.P. raised its position in shares of Carpenter Technology by 8.9% in the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company's stock valued at $353,000 after purchasing an additional 180 shares during the period. Finally, New York State Teachers Retirement System grew its stake in Carpenter Technology by 6.8% in the 3rd quarter. New York State Teachers Retirement System now owns 64,163 shares of the basic materials company's stock valued at $10,239,000 after buying an additional 4,094 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BTIG Research lifted their price objective on Carpenter Technology from $120.00 to $165.00 and gave the stock 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 report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of "Moderate Buy" and an average price target of $139.60.

Carpenter Technology Stock Performance

Carpenter Technology stock traded down $1.13 on Monday, hitting $154.23. The company's stock had a trading volume of 473,669 shares, compared to its average volume of 591,877. The company has a fifty day moving average price of $151.78 and a 200-day moving average price of $126.68. The firm has a market cap of $7.69 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 0.75 and a beta of 1.46. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $166.67. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

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

Carpenter Technology Dividend Announcement

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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.52%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology's dividend payout ratio is 17.82%.

Carpenter Technology 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.