Entropy Technologies LP Purchases 10,389 Shares of Carpenter Technology Co. (NYSE:CRS)

Entropy Technologies LP increased its holdings in Carpenter Technology Co. (NYSE:CRS) by 325.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,578 shares of the basic materials company’s stock after buying an additional 10,389 shares during the period. Entropy Technologies LP’s holdings in Carpenter Technology were worth $2,167,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Carpenter Technology by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock worth $406,096,000 after buying an additional 15,564 shares during the last quarter. American Century Companies Inc. increased its stake in Carpenter Technology by 129.5% during the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after acquiring an additional 479,047 shares during the last quarter. Wolf Hill Capital Management LP purchased a new stake in Carpenter Technology during the second quarter valued at approximately $73,850,000. Bayberry Capital Partners LP bought a new stake in shares of Carpenter Technology in the 1st quarter valued at approximately $35,887,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Carpenter Technology by 1,538.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock worth $34,053,000 after purchasing an additional 200,364 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

CRS has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. BTIG Research raised their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $139.60.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $176.70 on Wednesday. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $182.52. The company has a market capitalization of $8.81 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The stock’s fifty day moving average is $155.90 and its two-hundred day moving average is $131.17. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. As a group, analysts expect that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be issued 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 0.45%. Carpenter Technology’s payout ratio is 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.