Pacer Advisors Inc. bought a new stake in Carpenter Technology Co. (NYSE:CRS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,850 shares of the basic materials company’s stock, valued at approximately $904,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new position in Carpenter Technology in the first quarter valued at about $339,000. Campbell & CO Investment Adviser LLC purchased a new position in Carpenter Technology in the second quarter valued at about $203,000. Mason Street Advisors LLC grew its stake in Carpenter Technology by 1.5% in the first quarter. Mason Street Advisors LLC now owns 25,195 shares of the basic materials company’s stock valued at $1,155,000 after purchasing an additional 383 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in Carpenter Technology by 1.0% in the first quarter. Frontier Capital Management Co. LLC now owns 1,106,922 shares of the basic materials company’s stock valued at $50,752,000 after purchasing an additional 10,603 shares in the last quarter. Finally, Wrapmanager Inc. grew its stake in Carpenter Technology by 7.1% in the second quarter. Wrapmanager Inc. now owns 10,270 shares of the basic materials company’s stock valued at $493,000 after purchasing an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 92.27% of the company’s stock.
A number of brokerages have commented on CRS. Longbow Research set a $59.00 target price on Carpenter Technology and gave the company a “buy” rating in a research note on Friday, June 14th. ValuEngine upgraded Carpenter Technology from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Zacks Investment Research upgraded Carpenter Technology from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Wednesday, June 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Carpenter Technology has a consensus rating of “Buy” and a consensus price target of $52.50.
Shares of CRS traded up $0.24 during trading hours on Friday, hitting $55.04. 361,416 shares of the company were exchanged, compared to its average volume of 236,520. The company has a market cap of $2.61 billion, a PE ratio of 15.91 and a beta of 2.40. The firm’s 50 day moving average is $47.42 and its 200-day moving average is $46.84. Carpenter Technology Co. has a 52 week low of $32.77 and a 52 week high of $60.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.08 and a current ratio of 2.97.
Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. The company had revenue of $641.40 million during the quarter, compared to the consensus estimate of $637.84 million. Carpenter Technology had a return on equity of 10.33% and a net margin of 7.02%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 EPS. As a group, equities analysts forecast that Carpenter Technology Co. will post 3.91 earnings per share for the current fiscal year.
The business also recently declared 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. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. Carpenter Technology’s dividend payout ratio (DPR) is presently 23.12%.
Carpenter Technology Profile
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.
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