Weiss Asset Management LP bought a new stake in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,543 shares of the basic materials company's stock, valued at approximately $725,000.
A number of other large investors also recently added to or reduced their stakes in CRS. Kimelman & Baird LLC acquired a new stake in shares of Carpenter Technology in the 2nd quarter valued at approximately $33,000. nVerses Capital LLC bought a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $64,000. Banque Cantonale Vaudoise bought a new position in shares of Carpenter Technology in the third quarter valued at $65,000. National Bank of Canada FI bought a new position in shares of Carpenter Technology in the second quarter valued at $49,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of 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 in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
CRS has been the subject of several research reports. JPMorgan Chase & Co. assumed coverage on Carpenter Technology in a report on Friday, November 22nd. They set an "overweight" rating and a $220.00 price target for the company. Benchmark reiterated a "buy" rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $153.00.
Get Our Latest Stock Report on Carpenter Technology
Carpenter Technology Stock Performance
NYSE:CRS traded down $9.31 during trading on Monday, reaching $184.21. The company's stock had a trading volume of 1,490,477 shares, compared to its average volume of 593,769. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52. 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 firm has a 50 day moving average of $171.01 and a 200-day moving average of $141.92. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $198.24.
Carpenter Technology (NYSE:CRS - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) 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 business had revenue of $717.60 million for the quarter, compared to analysts' expectations of $742.96 million. During the same quarter in the prior year, the firm posted $0.88 EPS. The firm's quarterly revenue was up 10.1% on a year-over-year basis. Research analysts expect that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.
Carpenter Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Carpenter Technology's dividend payout ratio is 17.82%.
About Carpenter Technology
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Free Report)
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.
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