Simon Quick Advisors LLC Purchases New Position in Carpenter Technology Co. (NYSE:CRS)

Simon Quick Advisors LLC acquired a new stake in Carpenter Technology Co. (NYSE:CRS) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,029 shares of the basic materials company’s stock, valued at approximately $222,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Carpenter Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock valued at $406,096,000 after purchasing an additional 15,564 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Carpenter Technology by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,616,808 shares of the basic materials company’s stock worth $256,072,000 after acquiring an additional 43,589 shares during the period. Goldman Sachs Group Inc. lifted its position in Carpenter Technology by 82.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after purchasing an additional 438,781 shares during the period. Hawk Ridge Capital Management LP lifted its position in Carpenter Technology by 199.1% during the fourth quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock valued at $48,741,000 after purchasing an additional 458,227 shares during the period. Finally, Bayberry Capital Partners LP purchased a new stake in Carpenter Technology in the first quarter worth approximately $35,887,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRS has been the topic of a number of research reports. BTIG Research raised their price target on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Benchmark raised their target price on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target for the company. Northcoast Research reissued a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a report on Friday, June 14th. Finally, TD Cowen boosted their target price on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and an average target price of $139.60.

Carpenter Technology Stock Up 0.1 %

CRS stock opened at $135.87 on Friday. The business’s 50-day moving average price is $130.18 and its 200-day moving average price is $101.80. The stock has a market cap of $6.74 billion, a P/E ratio of 51.66, a PEG ratio of 0.82 and a beta of 1.43. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $148.94.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.31. The business had revenue of $798.70 million for the quarter, compared to the consensus estimate of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities research analysts forecast that Carpenter Technology Co. will post 6.06 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 27th were paid a $0.20 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. Carpenter Technology’s payout ratio is presently 30.42%.

Carpenter Technology 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.