Swiss National Bank Has $14.68 Million Stock Position in Carpenter Technology Co. (NYSE:CRS)

Swiss National Bank lessened its holdings in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 92,000 shares of the basic materials company's stock after selling 5,200 shares during the period. Swiss National Bank owned approximately 0.18% of Carpenter Technology worth $14,681,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Carpenter Technology by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company's stock worth $406,096,000 after purchasing an additional 15,564 shares during the last quarter. American Century Companies Inc. increased its stake in Carpenter Technology by 129.5% during the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company's stock valued at $93,044,000 after acquiring an additional 479,047 shares during the period. Wolf Hill Capital Management LP acquired a new position in Carpenter Technology in the 2nd quarter valued at approximately $73,850,000. Bayberry Capital Partners LP bought a new stake in shares of Carpenter Technology in the 1st quarter worth approximately $35,887,000. Finally, Assenagon Asset Management S.A. lifted its position 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 worth $34,053,000 after acquiring an additional 200,364 shares during the period. Institutional investors own 92.03% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CRS. Benchmark restated a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research increased their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Carpenter Technology in a research report on Friday. They set an "overweight" rating and a $220.00 target price on the stock. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, Carpenter Technology has an average rating of "Moderate Buy" and an average price target of $153.00.

Carpenter Technology Price Performance

Shares of NYSE CRS traded up $10.26 during midday trading on Friday, reaching $190.97. 1,076,438 shares of the company traded hands, compared to its average volume of 635,837. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $192.34. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The stock's 50-day simple moving average is $161.90 and its 200-day simple moving average is $134.76. The firm has a market cap of $9.52 billion, a PE ratio of 42.51, a PEG ratio of 0.92 and a beta of 1.46.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The firm had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm's quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. As a group, equities analysts anticipate that Carpenter Technology Co. will post 6.61 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology's payout ratio is presently 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.