Wrapmanager Inc. Has $208,000 Position in Carpenter Technology Co. (NYSE:CRS)

Wrapmanager Inc. cut its position in Carpenter Technology Co. (NYSE:CRS) by 38.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,304 shares of the basic materials company’s stock after selling 805 shares during the period. Wrapmanager Inc.’s holdings in Carpenter Technology were worth $208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRS. Strengthening Families & Communities LLC grew its stake in Carpenter Technology by 0.6% in the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after acquiring an additional 100 shares during the period. CWM LLC lifted its position in Carpenter Technology by 12.6% in the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 103 shares in the last quarter. GAMMA Investing LLC boosted its stake in Carpenter Technology by 9.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 136 shares during the period. KBC Group NV increased its holdings in Carpenter Technology by 13.5% during the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock worth $216,000 after purchasing an additional 161 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after buying an additional 178 shares in the last quarter. 92.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Carpenter Technology Price Performance

NYSE:CRS opened at $184.68 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average price is $160.15 and its two-hundred day moving average price is $134.11. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $184.85. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 41.13, a P/E/G ratio of 0.88 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $742.96 million. During the same quarter in the prior year, the business earned $0.88 EPS. Carpenter Technology’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Carpenter Technology’s payout ratio is presently 17.82%.

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.