Qsemble Capital Management LP Takes Position in Carpenter Technology Co. (NYSE:CRS)

Qsemble Capital Management LP acquired a new stake in Carpenter Technology Co. (NYSE:CRS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,438 shares of the basic materials company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd raised its holdings in shares of Carpenter Technology by 12,878.0% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 5,321 shares of the basic materials company’s stock valued at $850,000 after purchasing an additional 5,280 shares in the last quarter. Fisher Asset Management LLC raised its stake in Carpenter Technology by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after acquiring an additional 13,815 shares in the last quarter. Algert Global LLC raised its stake in Carpenter Technology by 92.6% during the 3rd quarter. Algert Global LLC now owns 81,713 shares of the basic materials company’s stock worth $13,040,000 after acquiring an additional 39,287 shares in the last quarter. Cerity Partners LLC acquired a new stake in Carpenter Technology during the 3rd quarter worth $540,000. Finally, Citigroup Inc. raised its stake in Carpenter Technology by 76.8% during the 3rd quarter. Citigroup Inc. now owns 63,137 shares of the basic materials company’s stock worth $10,075,000 after acquiring an additional 27,418 shares in the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRS shares. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology Trading Down 0.9 %

Shares of Carpenter Technology stock opened at $194.46 on Thursday. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $198.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The company has a market capitalization of $9.69 billion, a P/E ratio of 42.91, a PEG ratio of 0.99 and a beta of 1.46. The company’s fifty day moving average is $165.00 and its two-hundred day moving average is $137.10.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm posted $0.88 EPS. Carpenter Technology’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts forecast that Carpenter Technology Co. will post 6.61 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s payout ratio is 17.82%.

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.