Orser Capital Management LLC Has $5.01 Million Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Orser Capital Management LLC lowered its stake in Carpenter Technology Co. (NYSE:CRS) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 31,413 shares of the basic materials company’s stock after selling 280 shares during the period. Carpenter Technology accounts for approximately 3.8% of Orser Capital Management LLC’s holdings, making the stock its 8th biggest holding. Orser Capital Management LLC’s holdings in Carpenter Technology were worth $5,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Carpenter Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock valued at $406,096,000 after buying an additional 15,564 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Carpenter Technology by 82.3% during the 4th 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 last quarter. American Century Companies Inc. grew its position in shares of Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after buying an additional 479,047 shares during the last quarter. Hawk Ridge Capital Management LP grew its position in shares of Carpenter Technology by 199.1% during the 4th quarter. Hawk Ridge Capital Management LP now owns 688,427 shares of the basic materials company’s stock valued at $48,741,000 after buying an additional 458,227 shares during the last quarter. Finally, Wolf Hill Capital Management LP bought a new stake in shares of Carpenter Technology during the 2nd quarter valued at about $73,850,000. Institutional investors own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

CRS has been the subject of a number of recent research reports. Benchmark boosted their price objective on shares of Carpenter Technology from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Northcoast Research reaffirmed a “sell” rating and set a $89.00 price objective on shares of Carpenter Technology in a research report on Friday, June 14th. BTIG Research boosted their target price 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. TD Cowen boosted their target price 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. Finally, Deutsche Bank Aktiengesellschaft began 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 for the company. One 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 company’s stock. According to data from MarketBeat.com, Carpenter Technology presently has an average rating of “Moderate Buy” and a consensus price target of $139.60.

Carpenter Technology Price Performance

Shares of NYSE:CRS traded up $5.81 during trading on Friday, reaching $159.89. The company had a trading volume of 421,883 shares, compared to its average volume of 589,121. The firm’s fifty day moving average is $144.77 and its 200 day moving average is $114.13. The firm has a market capitalization of $7.93 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 0.89 and a beta of 1.45. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $166.51. 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 quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. The company had revenue of $798.70 million during 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 revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. On average, equities analysts forecast that Carpenter Technology Co. will post 6.09 EPS for the current year.

Carpenter Technology Dividend Announcement

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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Tuesday, August 27th. Carpenter Technology’s dividend payout ratio is currently 30.42%.

Carpenter Technology 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.