5,200 Shares in Carpenter Technology Co. (NYSE:CRS) Bought by TD Asset Management Inc

TD Asset Management Inc bought a new position in shares of Carpenter Technology Co. (NYSE:CRS) during the 2nd quarter, Holdings Channel.com reports. The firm bought 5,200 shares of the basic materials company’s stock, valued at approximately $570,000.

Other institutional investors have also recently made changes to their positions in the company. Bayberry Capital Partners LP acquired a new position in shares of Carpenter Technology in the first quarter worth approximately $35,887,000. Hawk Ridge Capital Management LP raised its stake in Carpenter Technology by 199.1% during the fourth quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock worth $48,741,000 after buying an additional 458,227 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Carpenter Technology by 82.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after buying an additional 438,781 shares during the period. Hennessy Advisors Inc. bought a new stake in Carpenter Technology during the fourth quarter valued at $27,407,000. Finally, Norges Bank acquired a new stake in Carpenter Technology during the 4th quarter worth about $22,901,000. Institutional investors own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRS. Benchmark boosted their price objective on Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, July 26th. TD Cowen increased their price target on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Northcoast Research reiterated a “sell” rating and issued a $89.00 price objective on shares of Carpenter Technology in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Carpenter Technology in a research note on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price on the stock. Finally, BTIG Research lifted their price target on shares of 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, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $142.41 on Monday. The stock’s 50 day moving average is $133.83 and its 200-day moving average is $105.37. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $148.94. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 54.15, a PEG ratio of 0.77 and a beta of 1.45.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.31. The firm had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. Sell-side analysts forecast that Carpenter Technology Co. will post 6.06 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 27th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio (DPR) is presently 30.42%.

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.