GAMMA Investing LLC Raises Holdings in Carpenter Technology Co. (NYSE:CRS)

GAMMA Investing LLC grew its stake in Carpenter Technology Co. (NYSE:CRS) by 17.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,457 shares of the basic materials company’s stock after buying an additional 357 shares during the quarter. GAMMA Investing LLC’s holdings in Carpenter Technology were worth $417,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Natixis Advisors LLC grew its holdings in Carpenter Technology by 1.5% during the 2nd quarter. Natixis Advisors LLC now owns 22,474 shares of the basic materials company’s stock worth $2,463,000 after acquiring an additional 330 shares in the last quarter. TD Asset Management Inc acquired a new position in shares of Carpenter Technology during the second quarter worth $570,000. National Bank of Canada FI purchased a new position in Carpenter Technology in the second quarter valued at $49,000. Arizona State Retirement System increased its holdings in Carpenter Technology by 2.1% in the second quarter. Arizona State Retirement System now owns 13,833 shares of the basic materials company’s stock valued at $1,516,000 after buying an additional 282 shares during the last quarter. Finally, Savant Capital LLC lifted its holdings in Carpenter Technology by 6.5% during the 2nd quarter. Savant Capital LLC now owns 4,911 shares of the basic materials company’s stock worth $538,000 after buying an additional 298 shares during the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. started coverage on Carpenter Technology in a report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective on the stock. Benchmark reiterated a “buy” rating and issued a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and an average price target of $153.00.

Carpenter Technology Trading Up 2.6 %

NYSE:CRS opened at $180.13 on Monday. The company has a market capitalization of $8.98 billion, a PE ratio of 40.12, a P/E/G ratio of 0.90 and a beta of 1.55. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $198.24. The stock’s 50 day moving average price is $177.24 and its 200 day moving average price is $151.49. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. On average, research analysts anticipate that Carpenter Technology Co. will post 6.74 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Carpenter Technology’s dividend payout ratio (DPR) is 17.82%.

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.