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

Swiss National Bank trimmed its position in shares of Carpenter Technology Co. (NYSE:CRS) by 5.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 92,000 shares of the basic materials company’s stock after selling 5,200 shares during the period. Swiss National Bank’s holdings in Carpenter Technology were worth $14,681,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRS. Wolf Hill Capital Management LP acquired a new position in Carpenter Technology during the second quarter worth $73,850,000. Bayberry Capital Partners LP bought a new position in Carpenter Technology during the first quarter worth $35,887,000. American Century Companies Inc. boosted its position 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 worth $93,044,000 after purchasing an additional 479,047 shares during the period. Assenagon Asset Management S.A. boosted its position in Carpenter Technology by 1,538.1% during the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock worth $34,053,000 after purchasing an additional 200,364 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Carpenter Technology during the second quarter worth $13,248,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 5.6 %

Shares of Carpenter Technology stock opened at $190.89 on Friday. The firm has a 50-day moving average of $161.90 and a 200-day moving average of $134.76. The stock has a market cap of $9.51 billion, a PE ratio of 42.51, a PEG ratio of 0.94 and a beta of 1.46. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week 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.

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

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.42%. Carpenter Technology’s dividend payout ratio is 17.82%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a research report on Friday. They set an “overweight” rating and a $220.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. Finally, BTIG Research lifted their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.00.

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.