D.A. Davidson & CO. bought a new position in shares of Carpenter Technology Co. (NYSE:CRS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,777 shares of the basic materials company’s stock, valued at approximately $223,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Buckingham Asset Management LLC acquired a new stake in shares of Carpenter Technology during the third quarter worth $205,000. Jane Street Group LLC acquired a new stake in shares of Carpenter Technology during the second quarter worth $220,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Carpenter Technology during the second quarter worth $222,000. Pitcairn Co. acquired a new stake in shares of Carpenter Technology during the second quarter worth $225,000. Finally, Engineers Gate Manager LP acquired a new position in Carpenter Technology in the second quarter valued at about $247,000. 94.06% of the stock is owned by institutional investors.
CRS stock opened at $39.86 on Friday. The stock has a market capitalization of $2.01 billion, a P/E ratio of 15.88 and a beta of 2.25. Carpenter Technology Co. has a 52 week low of $39.61 and a 52 week high of $61.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.27 and a quick ratio of 1.23.
Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.09). The company had revenue of $572.40 million during the quarter, compared to analyst estimates of $559.00 million. Carpenter Technology had a net margin of 8.74% and a return on equity of 9.03%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm 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 business also recently declared a quarterly dividend, which was paid on Thursday, December 6th. Investors of record on Tuesday, October 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Monday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 32.00%.
A number of research firms recently commented on CRS. Cowen reaffirmed a “buy” rating and issued a $53.00 price target on shares of Carpenter Technology in a research note on Thursday. Zacks Investment Research downgraded Carpenter Technology from a “hold” rating to a “sell” rating in a research note on Tuesday. Deutsche Bank set a $50.00 price target on Carpenter Technology and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, ValuEngine downgraded Carpenter Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.75.
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About Carpenter Technology
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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