Carpenter Technology Co. (NYSE:CRS) Shares Bought by Algert Global LLC

Algert Global LLC grew its holdings in Carpenter Technology Co. (NYSE:CRS) by 92.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 81,713 shares of the basic materials company’s stock after buying an additional 39,287 shares during the period. Algert Global LLC owned 0.16% of Carpenter Technology worth $13,040,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cerity Partners LLC purchased a new position in Carpenter Technology during the third quarter worth about $540,000. Citigroup Inc. grew its holdings in Carpenter Technology by 76.8% during the third 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 during the period. Charles Schwab Investment Management Inc. raised its position in Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock worth $122,794,000 after acquiring an additional 103,559 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Carpenter Technology by 302.6% in the third quarter. Intech Investment Management LLC now owns 20,261 shares of the basic materials company’s stock valued at $3,233,000 after acquiring an additional 15,228 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Carpenter Technology by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 25,613 shares of the basic materials company’s stock worth $4,087,000 after purchasing an additional 1,260 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Price Performance

CRS stock opened at $190.89 on Friday. The firm has a market cap of $9.52 billion, a P/E ratio of 42.51, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46. 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 1 year low of $58.87 and a 1 year high of $192.34. The stock has a 50-day simple moving average of $161.90 and a 200-day simple moving average of $134.76.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS 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 firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same quarter in the previous year, the business posted $0.88 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Carpenter Technology Co. will post 6.61 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CRS shares. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research report on Friday. They set an “overweight” rating and a $220.00 target price on the stock. Benchmark reissued a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. Finally, BTIG Research raised their price objective on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.