Banque Cantonale Vaudoise Invests $65,000 in Carpenter Technology Co. (NYSE:CRS)

Banque Cantonale Vaudoise bought a new position in Carpenter Technology Co. (NYSE:CRS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 405 shares of the basic materials company’s stock, valued at approximately $65,000.

Other hedge funds also recently bought and sold shares of the company. Kimelman & Baird LLC bought a new position in Carpenter Technology in the 2nd quarter valued at $33,000. National Bank of Canada FI bought a new position in shares of Carpenter Technology in the second quarter worth approximately $49,000. EverSource Wealth Advisors LLC grew its holdings in shares of Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 178 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Carpenter Technology during the third quarter valued at approximately $64,000. Finally, CWM LLC raised its holdings in shares of Carpenter Technology by 12.6% during the second quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CRS shares. JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a research report on Friday. They set an “overweight” rating and a $220.00 price target on the stock. Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. Finally, BTIG Research increased their price target on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and an average target price of $153.00.

Carpenter Technology Stock Up 5.7 %

Shares of CRS opened at $190.97 on Friday. The company has a market cap of $9.52 billion, a PE ratio of 42.53, a P/E/G ratio of 0.92 and a beta of 1.46. The business has a fifty day moving average of $162.86 and a 200 day moving average of $135.60. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $192.34. 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 issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The firm had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 earnings per share. On average, sell-side analysts expect that Carpenter Technology Co. will post 6.61 EPS for the current year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.42%. 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.