Edgestream Partners L.P. Purchases 3,569 Shares of Carpenter Technology Co. (NYSE:CRS)

Edgestream Partners L.P. boosted its holdings in Carpenter Technology Co. (NYSE:CRS) by 14.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,874 shares of the basic materials company’s stock after buying an additional 3,569 shares during the quarter. Edgestream Partners L.P. owned approximately 0.06% of Carpenter Technology worth $3,054,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Cape Investment Advisory Inc. bought a new position in shares of Carpenter Technology during the fourth quarter valued at $29,000. Whittier Trust Co. acquired a new stake in Carpenter Technology in the first quarter valued at $30,000. Johnson Financial Group Inc. bought a new position in Carpenter Technology during the 4th quarter worth $31,000. Westend Capital Management LLC acquired a new position in Carpenter Technology during the 1st quarter worth about $36,000. Finally, National Bank of Canada FI bought a new stake in shares of Carpenter Technology in the 2nd quarter valued at about $49,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Up 2.6 %

Carpenter Technology stock opened at $146.98 on Thursday. The company has a market capitalization of $7.29 billion, a PE ratio of 55.89, a PEG ratio of 0.77 and a beta of 1.45. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $151.55. The firm’s fifty day moving average is $135.25 and its 200 day moving average is $106.45. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data 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 net margin of 6.76% and a return on equity of 15.81%. The company had revenue of $798.70 million for the quarter, compared to analysts’ expectations of $763.76 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Carpenter Technology Co. will post 6.06 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.54%. Carpenter Technology’s dividend payout ratio is 30.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. BTIG Research lifted 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. Northcoast Research restated a “sell” rating and issued a $89.00 price target on shares of Carpenter Technology in a research report on Friday, June 14th. TD Cowen upped their price objective on shares of Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Benchmark lifted their target price on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They set a “buy” rating and a $144.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $139.60.

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.