Cwm LLC Acquires 543 Shares of Carpenter Technology Co. (NYSE:CRS)

Cwm LLC grew its holdings in Carpenter Technology Co. (NYSE:CRS) by 59.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,464 shares of the basic materials company’s stock after acquiring an additional 543 shares during the period. Cwm LLC’s holdings in Carpenter Technology were worth $234,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. bought a new position in Carpenter Technology in the first quarter worth approximately $30,000. Kimelman & Baird LLC bought a new position in Carpenter Technology in the second quarter worth approximately $33,000. National Bank of Canada FI bought a new position in Carpenter Technology in the second quarter worth approximately $49,000. EverSource Wealth Advisors LLC raised its position in Carpenter Technology by 58.0% in the second 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 period. Finally, Covestor Ltd raised its position in Carpenter Technology by 469.2% in the first quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 685 shares during the period. 92.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 price target on the stock. BTIG Research raised their price objective 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, Benchmark raised their price objective on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Stock Down 1.8 %

Shares of CRS stock opened at $155.80 on Wednesday. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 59.24, a PEG ratio of 0.83 and a beta of 1.45. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $166.51. The company’s fifty day moving average price is $149.61 and its 200-day moving average price is $122.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84.

Carpenter Technology (NYSE:CRS) last posted its 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 company had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. Carpenter Technology’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share. Sell-side analysts expect that Carpenter Technology Co. will post 6.63 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid 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 0.51%. Carpenter Technology’s payout ratio is 30.42%.

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.