Carpenter Technology Co. (NYSE:CRS) is Tyro Capital Management LLC's 4th Largest Position

Tyro Capital Management LLC grew its holdings in Carpenter Technology Co. (NYSE:CRS - Free Report) by 38.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,749 shares of the basic materials company's stock after acquiring an additional 41,601 shares during the period. Carpenter Technology comprises 7.5% of Tyro Capital Management LLC's holdings, making the stock its 4th biggest position. Tyro Capital Management LLC owned about 0.30% of Carpenter Technology worth $23,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRS. Kimelman & Baird LLC purchased a new position in Carpenter Technology during the second quarter valued at approximately $33,000. National Bank of Canada FI purchased a new position in shares of Carpenter Technology during the 2nd quarter valued at approximately $49,000. EverSource Wealth Advisors LLC lifted its stake in shares of Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 178 shares during the period. nVerses Capital LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter valued at $64,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Carpenter Technology during the third quarter worth $65,000. Institutional investors and hedge funds own 92.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRS. Benchmark reiterated a "buy" rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. began coverage on Carpenter Technology in a research note on Friday, November 22nd. They issued an "overweight" rating and a $220.00 price target for the company. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $153.00.

Carpenter Technology Price Performance

Shares of CRS traded down $3.08 during mid-day trading on Friday, hitting $174.09. 585,302 shares of the company were exchanged, compared to its average volume of 594,960. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 39.44, a price-to-earnings-growth ratio of 0.90 and a beta of 1.52. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $198.24. The company has a 50 day moving average of $172.90 and a 200-day moving average of $143.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million during the quarter, compared to analysts' expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 earnings per share. Analysts expect that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.46%. Carpenter Technology's dividend payout ratio (DPR) 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.