13,326 Shares in Carpenter Technology Co. (NYSE:CRS) Acquired by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC purchased a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 13,326 shares of the basic materials company’s stock, valued at approximately $1,460,000.

Several other hedge funds also recently modified their holdings of the company. First Eagle Investment Management LLC boosted its stake in Carpenter Technology by 13.2% during the first quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock valued at $10,667,000 after buying an additional 17,400 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Carpenter Technology during the 1st quarter valued at about $4,199,000. Comerica Bank grew its stake in shares of Carpenter Technology by 170.3% in the 1st quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock worth $4,812,000 after purchasing an additional 42,449 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Carpenter Technology in the 1st quarter worth approximately $1,347,000. Finally, Moody National Bank Trust Division acquired a new stake in Carpenter Technology during the second quarter valued at approximately $1,208,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

Shares of Carpenter Technology stock opened at $159.01 on Friday. The stock has a market cap of $7.89 billion, a PE ratio of 60.46, a price-to-earnings-growth ratio of 0.89 and a beta of 1.45. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $166.51. The company has a quick ratio of 1.84, a current ratio of 3.41 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $141.83 and a 200-day simple moving average of $111.24.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 25th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.31. The company had revenue of $798.70 million for the quarter, compared to analysts’ expectations of $763.76 million. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. On average, sell-side analysts anticipate that Carpenter Technology Co. will post 6.09 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on CRS. Benchmark lifted their price target on shares of Carpenter Technology from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. BTIG Research boosted their target price on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Carpenter Technology in a report on Tuesday, June 25th. They set a “buy” rating and a $144.00 target price for the company. TD Cowen lifted their price target on Carpenter Technology from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, 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. One investment 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. Based on data from MarketBeat.com, Carpenter Technology currently has a consensus rating of “Moderate Buy” and a consensus 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.