Carpenter Technology Co. (NYSE:CRS) is Emerald Mutual Fund Advisers Trust’s 3rd Largest Position

Emerald Mutual Fund Advisers Trust reduced its holdings in Carpenter Technology Co. (NYSE:CRS) by 12.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 425,571 shares of the basic materials company’s stock after selling 58,026 shares during the period. Carpenter Technology comprises 2.4% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 3rd biggest position. Emerald Mutual Fund Advisers Trust owned about 0.86% of Carpenter Technology worth $46,634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in Carpenter Technology in the second quarter valued at $1,690,000. Savant Capital LLC boosted its stake in shares of Carpenter Technology by 6.5% in the second quarter. Savant Capital LLC now owns 4,911 shares of the basic materials company’s stock worth $538,000 after buying an additional 298 shares during the last quarter. Arizona State Retirement System grew its holdings in Carpenter Technology by 2.1% during the second quarter. Arizona State Retirement System now owns 13,833 shares of the basic materials company’s stock worth $1,516,000 after acquiring an additional 282 shares during the period. National Bank of Canada FI acquired a new stake in Carpenter Technology during the second quarter worth about $49,000. Finally, TD Asset Management Inc acquired a new position in Carpenter Technology in the second quarter valued at approximately $570,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Down 2.7 %

Shares of NYSE CRS opened at $132.16 on Friday. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 50.25, a price-to-earnings-growth ratio of 0.82 and a beta of 1.45. The company’s 50-day simple moving average is $130.64 and its 200-day simple moving average is $102.52. 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 52-week low of $58.87 and a 52-week high of $148.94.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data 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 return on equity of 15.81% and a net margin of 6.76%. The company had revenue of $798.70 million for the quarter, compared to analysts’ expectations of $763.76 million. During the same period in the previous year, the firm posted $0.78 EPS. Carpenter Technology’s revenue was up 5.4% compared to the same quarter last year. Equities analysts predict that Carpenter Technology Co. will post 6.06 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, August 27th. Carpenter Technology’s payout ratio is 30.42%.

Analysts Set New Price Targets

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

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.