Pathway Financial Advisers LLC Has $3.79 Million Stake in Carpenter Technology Co. (NYSE:CRS)

Pathway Financial Advisers LLC boosted its stake in Carpenter Technology Co. (NYSE:CRS) by 15,857.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,777 shares of the basic materials company’s stock after purchasing an additional 23,628 shares during the period. Pathway Financial Advisers LLC’s holdings in Carpenter Technology were worth $3,794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CRS. Wolf Hill Capital Management LP bought a new stake in Carpenter Technology during the second quarter valued at $73,850,000. Bayberry Capital Partners LP bought a new stake in Carpenter Technology during the first quarter valued at $35,887,000. American Century Companies Inc. boosted its position in Carpenter Technology by 129.5% during the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after acquiring an additional 479,047 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Carpenter Technology by 1,538.1% during the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after acquiring an additional 200,364 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Carpenter Technology during the second quarter valued at $13,248,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on CRS. Benchmark reaffirmed a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. BTIG Research raised their target price on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

Carpenter Technology Stock Performance

Shares of CRS opened at $162.74 on Wednesday. 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 has a 50-day moving average of $151.10 and a 200-day moving average of $125.03. The company has a market cap of $8.07 billion, a PE ratio of 61.88, a P/E/G 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 $166.67.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. On average, equities research analysts predict that Carpenter Technology Co. will post 6.63 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Carpenter Technology’s dividend payout ratio (DPR) is currently 30.42%.

About Carpenter Technology

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.