Versor Investments LP Grows Stock Position in Carpenter Technology Co. (NYSE:CRS)

Versor Investments LP boosted its stake in Carpenter Technology Co. (NYSE:CRS) by 19.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,669 shares of the basic materials company’s stock after acquiring an additional 427 shares during the quarter. Versor Investments LP’s holdings in Carpenter Technology were worth $426,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Kimelman & Baird LLC acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at approximately $33,000. nVerses Capital LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter valued at approximately $64,000. National Bank of Canada FI acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at approximately $49,000. EverSource Wealth Advisors LLC raised its position in shares of Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 178 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Carpenter Technology by 469.2% during the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock valued at $59,000 after acquiring an additional 685 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRS has been the subject of a number of recent research reports. Benchmark restated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research upped their price objective on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note 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’s stock. According to data from MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Trading Down 2.6 %

NYSE:CRS opened at $172.30 on Friday. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $182.52. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 0.89 and a beta of 1.46. The business has a fifty day moving average of $157.46 and a 200-day moving average of $131.77. 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 (NYSE:CRS) last released its quarterly earnings results 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 return on equity of 18.01% and a net margin of 8.05%. The company had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts predict that Carpenter Technology Co. will post 6.68 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.46%. 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.