Systematic Financial Management LP Makes New $222,000 Investment in Carpenter Technology Co. (NYSE:CRS)

Systematic Financial Management LP acquired a new stake in Carpenter Technology Co. (NYSE:CRS) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,393 shares of the basic materials company’s stock, valued at approximately $222,000.

A number of other hedge funds have also recently made changes to their positions in CRS. Strengthening Families & Communities LLC lifted its position in Carpenter Technology by 0.6% in the 3rd 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 in the last quarter. CWM LLC raised its stake in shares of Carpenter Technology by 12.6% in the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 103 shares during the last quarter. KBC Group NV lifted its holdings in shares of Carpenter Technology by 13.5% in the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 161 shares in the last quarter. Arete Wealth Advisors LLC boosted its position in shares of Carpenter Technology by 7.5% during the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock valued at $384,000 after buying an additional 169 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in 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 currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Down 0.6 %

CRS stock opened at $193.62 on Friday. The stock has a market cap of $9.65 billion, a P/E ratio of 43.12, a P/E/G ratio of 0.96 and a beta of 1.52. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The stock’s fifty day simple moving average is $171.01 and its two-hundred day simple moving average is $141.48. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $198.24.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, topping 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 company had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. During the same period in the previous year, the firm earned $0.88 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Analysts expect that Carpenter Technology Co. will post 6.74 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Carpenter Technology’s payout ratio is currently 17.82%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective on the stock. Benchmark reissued a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology 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.