Carpenter Technology Co. (NYSE:CRS) Position Boosted by Quest Partners LLC

Quest Partners LLC increased its holdings in Carpenter Technology Co. (NYSE:CRS) by 68.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,624 shares of the basic materials company’s stock after purchasing an additional 1,468 shares during the quarter. Quest Partners LLC’s holdings in Carpenter Technology were worth $578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kimelman & Baird LLC bought a new position in shares of Carpenter Technology in the second quarter valued at $33,000. National Bank of Canada FI acquired a new position in shares of Carpenter Technology in the 2nd quarter worth $49,000. EverSource Wealth Advisors LLC grew its holdings 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 worth $53,000 after acquiring an additional 178 shares during the last quarter. Covestor Ltd raised its position in shares of Carpenter Technology by 469.2% during the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after purchasing an additional 685 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter valued at $64,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Up 5.6 %

Carpenter Technology stock opened at $190.89 on Friday. The firm’s 50 day moving average price is $161.90 and its two-hundred day moving average price is $134.76. The firm has a market cap of $9.51 billion, a PE ratio of 42.51, a P/E/G ratio of 0.94 and a beta of 1.46. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve 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.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data 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. 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 analysts’ expectations of $742.96 million. During the same quarter last year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, research analysts predict that Carpenter Technology Co. will post 6.61 EPS for the current fiscal 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 issued a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRS. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research upped their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, 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 on the stock. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $153.00.

About Carpenter Technology

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.