Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Versor Investments LP

Versor Investments LP lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 19.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,669 shares of the basic materials company’s stock after acquiring an additional 427 shares during the period. Versor Investments LP’s holdings in Carpenter Technology were worth $426,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CRS. Swiss National Bank boosted its stake in shares of Carpenter Technology by 1.1% during the first quarter. Swiss National Bank now owns 97,300 shares of the basic materials company’s stock valued at $6,949,000 after acquiring an additional 1,100 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Carpenter Technology by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,878 shares of the basic materials company’s stock valued at $705,000 after acquiring an additional 679 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Carpenter Technology by 22.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,792 shares of the basic materials company’s stock worth $1,199,000 after buying an additional 3,030 shares during the period. Blair William & Co. IL purchased a new position in Carpenter Technology during the first quarter worth about $307,000. Finally, Vanguard Group Inc. lifted its position in 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 worth $406,096,000 after buying an additional 15,564 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. BTIG Research increased their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Benchmark reiterated a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $172.30 on Friday. The stock’s 50-day moving average is $157.46 and its 200-day moving average is $131.77. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $182.52.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. Equities analysts anticipate that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Carpenter Technology’s dividend payout ratio (DPR) is 17.82%.

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.