Carpenter Technology Co. (NYSE:CRS) Shares Bought by Seven Eight Capital LP

Seven Eight Capital LP increased its holdings in Carpenter Technology Co. (NYSE:CRS) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,253 shares of the basic materials company’s stock after buying an additional 1,386 shares during the quarter. Seven Eight Capital LP’s holdings in Carpenter Technology were worth $2,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRS. Cape Investment Advisory Inc. purchased a new stake in Carpenter Technology in the 4th quarter worth approximately $29,000. Whittier Trust Co. purchased a new stake in Carpenter Technology in the 1st quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new stake in Carpenter Technology in the 4th quarter worth approximately $31,000. National Bank of Canada FI purchased a new stake in Carpenter Technology in the 2nd quarter worth approximately $49,000. Finally, Westend Capital Management LLC purchased a new stake in Carpenter Technology in the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CRS shares. Benchmark upped their price objective on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price on the stock. BTIG Research increased their target price on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. TD Cowen increased their target price on Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Northcoast Research reiterated a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Stock Up 2.6 %

NYSE CRS opened at $146.98 on Thursday. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $151.55. The company has a market cap of $7.29 billion, a P/E ratio of 55.89, a P/E/G ratio of 0.77 and a beta of 1.45. The business has a fifty day moving average price of $135.25 and a 200 day moving average price of $106.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41.

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

Carpenter Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Tuesday, August 27th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio (DPR) is presently 30.42%.

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.