Carpenter Technology Co. (NYSE:CRS) Position Boosted by Algert Global LLC

Algert Global LLC raised its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 92.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,713 shares of the basic materials company’s stock after acquiring an additional 39,287 shares during the period. Algert Global LLC’s holdings in Carpenter Technology were worth $13,040,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CRS. Comerica Bank raised its stake in shares of Carpenter Technology by 170.3% during the first quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock valued at $4,812,000 after purchasing an additional 42,449 shares in the last quarter. Moody National Bank Trust Division acquired a new position in Carpenter Technology during the 2nd quarter valued at about $1,208,000. Vanguard Group Inc. raised its position in shares of Carpenter Technology by 0.3% during the 1st 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 in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Carpenter Technology by 17.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,698 shares of the basic materials company’s stock worth $3,551,000 after buying an additional 7,562 shares in the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Carpenter Technology in the 2nd quarter worth approximately $1,460,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $190.89 on Friday. The stock has a market capitalization of $9.52 billion, a P/E ratio of 42.51, a P/E/G ratio of 0.92 and a beta of 1.46. The business has a 50-day moving average of $161.90 and a two-hundred day moving average of $134.76. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $192.34. 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 (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. During the same period in the prior year, the firm earned $0.88 EPS. Carpenter Technology’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that Carpenter Technology Co. will post 6.61 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

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 given a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.42%. Carpenter Technology’s dividend payout ratio is 17.82%.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a research report on Friday. They set an “overweight” rating and a $220.00 price target on the stock. Finally, BTIG Research upped their price objective on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.00.

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.