Oppenheimer & Co. Inc. Invests $571,000 in Carpenter Technology Co. (NYSE:CRS)

Oppenheimer & Co. Inc. bought a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,577 shares of the basic materials company's stock, valued at approximately $571,000.

Several other large investors have also recently added to or reduced their stakes in CRS. Vanguard Group Inc. increased its holdings in shares of Carpenter Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company's stock valued at $406,096,000 after purchasing an additional 15,564 shares during the period. American Century Companies Inc. boosted its position in shares of Carpenter Technology by 129.5% in the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock valued at $93,044,000 after purchasing an additional 479,047 shares during the period. Wolf Hill Capital Management LP acquired a new stake in Carpenter Technology during the 2nd quarter worth about $73,850,000. Bayberry Capital Partners LP acquired a new position in shares of Carpenter Technology in the 1st quarter valued at about $35,887,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Carpenter Technology by 1,538.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company's stock valued at $34,053,000 after buying an additional 200,364 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $180.73 on Thursday. The business has a fifty day simple moving average of $161.07 and a 200 day simple moving average of $134.43. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 0.88 and a beta of 1.46. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $187.03.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The firm had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. During the same period in the prior year, the company posted $0.88 earnings per share. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts expect that Carpenter Technology Co. will post 6.68 EPS 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. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.44%. Carpenter Technology's dividend payout ratio is currently 17.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports 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 research report on Tuesday, July 30th. Benchmark reiterated a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $139.60.

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.