PDT Partners LLC Has $1.90 Million Holdings in Carpenter Technology Co. (NYSE:CRS)

PDT Partners LLC decreased its holdings in Carpenter Technology Co. (NYSE:CRS) by 9.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,916 shares of the basic materials company’s stock after selling 1,299 shares during the quarter. PDT Partners LLC’s holdings in Carpenter Technology were worth $1,902,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CRS. Kimelman & Baird LLC acquired a new stake in shares of Carpenter Technology during the 2nd quarter worth $33,000. nVerses Capital LLC acquired a new stake in Carpenter Technology during the third quarter worth about $64,000. Banque Cantonale Vaudoise bought a new position in Carpenter Technology in the 3rd quarter valued at about $65,000. National Bank of Canada FI acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at approximately $49,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 178 shares during the period. Institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. began coverage on Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology Price Performance

CRS stock opened at $194.04 on Friday. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 43.22, a P/E/G ratio of 0.97 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. The company has a 50 day simple moving average of $167.49 and a 200 day simple moving average of $138.53. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $198.24.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results 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 company 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 business earned $0.88 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Research analysts anticipate that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently announced 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 0.41%. Carpenter Technology’s dividend payout ratio is presently 17.82%.

Carpenter Technology Company 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.