XTX Topco Ltd Takes $447,000 Position in Carpenter Technology Co. (NYSE:CRS)

XTX Topco Ltd purchased a new position in shares of Carpenter Technology Co. (NYSE:CRS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,080 shares of the basic materials company’s stock, valued at approximately $447,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRS. Vanguard Group Inc. increased its holdings in shares of Carpenter Technology by 0.3% in 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 acquiring an additional 15,564 shares during the period. Goldman Sachs Group Inc. increased its stake in Carpenter Technology by 82.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 972,222 shares of the basic materials company’s stock valued at $68,833,000 after purchasing an additional 438,781 shares during the period. American Century Companies Inc. raised its holdings in shares of Carpenter Technology by 129.5% in the second 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 raised its holdings in shares of Carpenter Technology by 199.1% in the fourth 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, Bayberry Capital Partners LP acquired a new stake in shares of Carpenter Technology during the first quarter worth about $35,887,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE CRS opened at $159.92 on Wednesday. The business has a 50 day moving average price of $139.41 and a 200 day moving average price of $109.59. The company has a market capitalization of $7.93 billion, a P/E ratio of 60.81, a PEG ratio of 0.77 and a beta of 1.45. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $161.14. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.41 and a quick ratio of 1.84.

Carpenter Technology (NYSE:CRS) last announced 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. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The business had revenue of $798.70 million during the quarter, compared to analysts’ expectations of $763.76 million. During the same quarter last year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts expect that Carpenter Technology Co. will post 6.06 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Tuesday, August 27th were given a $0.20 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Carpenter Technology’s dividend payout ratio is presently 30.42%.

Analysts Set New Price Targets

Several research firms have commented on CRS. Northcoast Research reaffirmed a “sell” rating and set a $89.00 price objective on shares of Carpenter Technology in a research note on Friday, June 14th. TD Cowen boosted 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. BTIG Research upped their price objective 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 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. 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 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology has a consensus rating of “Moderate Buy” and an average price target of $139.60.

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.