400 Shares in Carpenter Technology Co. (NYSE:CRS) Acquired by nVerses Capital LLC

nVerses Capital LLC purchased a new position in Carpenter Technology Co. (NYSE:CRS) during the 3rd quarter, HoldingsChannel reports. The firm purchased 400 shares of the basic materials company’s stock, valued at approximately $64,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kimelman & Baird LLC purchased a new position in Carpenter Technology during the 2nd quarter worth approximately $33,000. Whittier Trust Co. acquired a new stake in shares of Carpenter Technology in the first quarter valued at about $30,000. National Bank of Canada FI bought a new position in Carpenter Technology in the 2nd quarter worth approximately $49,000. EverSource Wealth Advisors LLC raised its stake in Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 178 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Carpenter Technology by 469.2% in the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock worth $59,000 after acquiring an additional 685 shares during the period. 92.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CRS. Benchmark increased their target price on Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, July 26th. BTIG Research raised their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a research note on Tuesday, June 25th. They set a “buy” rating and a $144.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $139.60.

Carpenter Technology Stock Performance

Carpenter Technology stock opened at $158.68 on Tuesday. The business’s 50-day moving average price is $148.92 and its two-hundred day moving average price is $121.09. The stock has a market cap of $7.87 billion, a PE ratio of 60.75, a P/E/G ratio of 0.83 and a beta of 1.45. 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 Co. has a 12-month low of $58.87 and a 12-month high of $166.51.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, July 25th. The basic materials company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.51 by $0.31. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The company had revenue of $798.70 million for the quarter, compared to analyst estimates of $763.76 million. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts expect that Carpenter Technology Co. will post 6.63 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s payout ratio is 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.