Victory Capital Management Inc. lifted its stake in Carpenter Technology Co. (NYSE:CRS) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 785,508 shares of the basic materials company’s stock after purchasing an additional 87,022 shares during the period. Victory Capital Management Inc. owned 1.66% of Carpenter Technology worth $46,306,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Carpenter Technology by 1.3% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 476,448 shares of the basic materials company’s stock valued at $28,087,000 after acquiring an additional 6,010 shares during the last quarter. Frontier Capital Management Co. LLC lifted its holdings in shares of Carpenter Technology by 22.3% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,149,392 shares of the basic materials company’s stock valued at $67,757,000 after acquiring an additional 209,210 shares during the last quarter. GWM Advisors LLC bought a new position in shares of Carpenter Technology in the 3rd quarter valued at about $320,000. James Investment Research Inc. lifted its holdings in shares of Carpenter Technology by 195.4% in the 3rd quarter. James Investment Research Inc. now owns 53,200 shares of the basic materials company’s stock valued at $3,136,000 after acquiring an additional 35,190 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Carpenter Technology by 368.0% in the 3rd quarter. First Trust Advisors LP now owns 83,635 shares of the basic materials company’s stock valued at $4,930,000 after acquiring an additional 65,765 shares during the last quarter. Hedge funds and other institutional investors own 95.24% of the company’s stock.
Shares of NYSE CRS opened at $43.83 on Friday. The company has a quick ratio of 1.23, a current ratio of 3.27 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 17.53 and a beta of 2.25. Carpenter Technology Co. has a 1 year low of $41.01 and a 1 year high of $61.49.
Carpenter Technology (NYSE:CRS) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.09). The firm had revenue of $572.40 million during the quarter, compared to the consensus estimate of $559.00 million. Carpenter Technology had a return on equity of 9.03% and a net margin of 8.74%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. On average, sell-side analysts predict that Carpenter Technology Co. will post 3.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Tuesday, October 23rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Monday, October 22nd. Carpenter Technology’s payout ratio is currently 32.00%.
CRS has been the subject of a number of analyst reports. Deutsche Bank set a $50.00 price target on shares of Carpenter Technology and gave the company a “hold” rating in a report on Thursday, October 25th. ValuEngine downgraded shares of Carpenter Technology from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research downgraded shares of Carpenter Technology from a “buy” rating to a “hold” rating in a report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $58.00.
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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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