Wilmington Savings Fund Society FSB Takes $80,000 Position in Carpenter Technology Co. (NYSE:CRS)

Wilmington Savings Fund Society FSB bought a new position in shares of Carpenter Technology Co. (NYSE:CRS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 500 shares of the basic materials company’s stock, valued at approximately $80,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in shares of Carpenter Technology by 3.9% in the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock valued at $58,137,000 after buying an additional 13,815 shares during the period. Forest Avenue Capital Management LP bought a new stake in Carpenter Technology in the third quarter worth about $25,262,000. Natixis Advisors LLC lifted its holdings in Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock valued at $3,801,000 after acquiring an additional 1,343 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Carpenter Technology by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after purchasing an additional 103,559 shares in the last quarter. Finally, Avala Global LP grew its stake in shares of Carpenter Technology by 21.0% in the 3rd quarter. Avala Global LP now owns 423,700 shares of the basic materials company’s stock worth $67,614,000 after purchasing an additional 73,400 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRS has been the subject of several recent research reports. Benchmark reissued a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective for the company. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $153.00.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $169.97 on Friday. The business’s 50-day simple moving average is $173.91 and its 200-day simple moving average is $145.56. 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 52 week low of $58.87 and a 52 week high of $198.24. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of 37.86, a P/E/G ratio of 0.90 and a beta of 1.52.

Carpenter Technology (NYSE:CRS) last released its 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. The firm had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, equities research analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio is currently 17.82%.

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.