National Bank of Canada FI Acquires New Holdings in Carpenter Technology Co. (NYSE:CRS)

National Bank of Canada FI bought a new position in Carpenter Technology Co. (NYSE:CRS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 458 shares of the basic materials company’s stock, valued at approximately $49,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bayberry Capital Partners LP purchased a new position in shares of Carpenter Technology during the first quarter worth about $35,887,000. 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 last quarter. Goldman Sachs Group Inc. grew its stake in Carpenter Technology by 82.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock worth $68,833,000 after buying an additional 438,781 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Carpenter Technology in the 4th quarter worth $27,407,000. Finally, Norges Bank purchased a new stake in shares of Carpenter Technology during the 4th quarter valued at $22,901,000. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on CRS shares. BTIG Research upped their target price 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. Benchmark increased their price objective on Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft started coverage on Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 target price for the company. TD Cowen upped their target price on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Northcoast Research reissued a “sell” rating and set a $89.00 price target on shares of Carpenter Technology in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Price Performance

CRS opened at $142.41 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84. The stock’s 50 day simple moving average is $133.83 and its 200 day simple moving average is $105.08. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 54.15, a PEG ratio of 0.77 and a beta of 1.45. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $148.94.

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

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio (DPR) is 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.