673,933 Shares in Carpenter Technology Co. (NYSE:CRS) Purchased by Wolf Hill Capital Management LP

Wolf Hill Capital Management LP purchased a new position in Carpenter Technology Co. (NYSE:CRS) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 673,933 shares of the basic materials company’s stock, valued at approximately $73,850,000. Carpenter Technology makes up 7.4% of Wolf Hill Capital Management LP’s portfolio, making the stock its 5th biggest holding. Wolf Hill Capital Management LP owned about 1.36% of Carpenter Technology as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. CWM LLC increased its stake in Carpenter Technology by 12.6% in the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 103 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Carpenter Technology by 9.2% in the second quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $177,000 after acquiring an additional 136 shares in the last quarter. American International Group Inc. raised its holdings in shares of Carpenter Technology by 0.7% during the fourth quarter. American International Group Inc. now owns 26,653 shares of the basic materials company’s stock valued at $1,887,000 after acquiring an additional 188 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Carpenter Technology by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,557 shares of the basic materials company’s stock valued at $825,000 after acquiring an additional 215 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Carpenter Technology by 1.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,689 shares of the basic materials company’s stock worth $1,835,000 after purchasing an additional 281 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Trading Up 1.0 %

NYSE:CRS opened at $156.51 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The company has a market capitalization of $7.76 billion, a P/E ratio of 59.51, a P/E/G ratio of 0.77 and a beta of 1.45. The stock’s 50 day moving average price is $137.83 and its 200 day moving average price is $107.70. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $157.49.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results 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 business had revenue of $798.70 million for the quarter, compared to the consensus estimate of $763.76 million. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. Carpenter Technology’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, research analysts forecast that Carpenter Technology Co. will post 6.06 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Carpenter Technology’s dividend payout ratio (DPR) is presently 30.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRS. TD Cowen increased their target price on Carpenter Technology from $116.00 to $125.00 and gave the company a “buy” rating in a report on Monday, June 10th. Northcoast Research reaffirmed a “sell” rating and set a $89.00 target price on shares of Carpenter Technology in a research note on Friday, June 14th. BTIG Research increased their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Benchmark raised their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Carpenter Technology in a research report on Tuesday, June 25th. They issued a “buy” rating and a $144.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.