Hanseatic Management Services Inc. Increases Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Hanseatic Management Services Inc. grew its position in Carpenter Technology Co. (NYSE:CRS) by 10,223.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,781 shares of the basic materials company’s stock after purchasing an additional 5,725 shares during the period. Carpenter Technology makes up approximately 1.3% of Hanseatic Management Services Inc.’s holdings, making the stock its 27th largest holding. Hanseatic Management Services Inc.’s holdings in Carpenter Technology were worth $923,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CRS. Whittier Trust Co. purchased a new stake in Carpenter Technology during the 1st quarter worth $30,000. Kimelman & Baird LLC acquired a new position in shares of Carpenter Technology in the second quarter worth about $33,000. National Bank of Canada FI acquired a new stake in Carpenter Technology during the 2nd quarter valued at approximately $49,000. EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 178 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Carpenter Technology by 469.2% in the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 685 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Up 10.5 %

NYSE CRS opened at $178.09 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $179.11. The company has a 50-day simple moving average of $153.08 and a 200-day simple moving average of $128.14. The firm has a market capitalization of $8.88 billion, a PE ratio of 39.66, a price-to-earnings-growth ratio of 0.78 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last posted 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. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. During the same period in the prior year, the company earned $0.88 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. On average, equities analysts forecast that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CRS shares. BTIG Research lifted their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Benchmark restated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, Carpenter Technology presently has an average rating of “Moderate Buy” and a consensus target price of $139.60.

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.