O Neil Global Advisors Inc. Invests $230,000 in Carpenter Technology Co. (NYSE:CRS)

O Neil Global Advisors Inc. purchased a new stake in Carpenter Technology Co. (NYSE:CRS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,100 shares of the basic materials company’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cape Investment Advisory Inc. bought a new stake in shares of Carpenter Technology during the fourth quarter worth approximately $29,000. Whittier Trust Co. acquired a new stake in shares of Carpenter Technology in the first quarter valued at approximately $30,000. Johnson Financial Group Inc. bought a new stake in shares of Carpenter Technology during the 4th quarter valued at $31,000. Westend Capital Management LLC acquired a new stake in Carpenter Technology during the first quarter worth about $36,000. Finally, National Bank of Canada FI bought a new position in Carpenter Technology in the 2nd quarter valued at about $49,000. 92.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CRS shares. TD Cowen lifted their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BTIG Research boosted their price target on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Northcoast Research reaffirmed a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a research note on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price for the company. Finally, Benchmark raised their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Price Performance

Carpenter Technology stock opened at $142.47 on Friday. The company has a market capitalization of $7.12 billion, a PE ratio of 54.17, a P/E/G ratio of 0.77 and a beta of 1.45. The company has a current ratio of 3.41, a quick ratio of 1.84 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $133.83 and a two-hundred day moving average price of $104.81. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $148.94.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.31. The firm had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS. Analysts expect that Carpenter Technology Co. will post 6.06 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Tuesday, August 27th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. Carpenter Technology’s payout ratio is 30.42%.

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.