Pacer Advisors Inc. Makes New Investment in Carpenter Technology Co. (NYSE:CRS)

Pacer Advisors Inc. acquired a new stake in shares of Carpenter Technology Co. (NYSE:CRS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,264 shares of the basic materials company’s stock, valued at approximately $1,233,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in shares of Carpenter Technology by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,930 shares of the basic materials company’s stock valued at $2,951,000 after buying an additional 328 shares during the period. Creative Planning lifted its position in shares of Carpenter Technology by 73.9% in the 2nd quarter. Creative Planning now owns 7,458 shares of the basic materials company’s stock worth $817,000 after buying an additional 3,170 shares during the last quarter. Cetera Investment Advisers increased its position in Carpenter Technology by 4.8% in the second quarter. Cetera Investment Advisers now owns 11,119 shares of the basic materials company’s stock worth $1,218,000 after buying an additional 506 shares during the period. SG Americas Securities LLC raised its holdings in shares of Carpenter Technology by 115.7% during the third quarter. SG Americas Securities LLC now owns 3,701 shares of the basic materials company’s stock valued at $591,000 after buying an additional 1,985 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Carpenter Technology by 35.9% in the third quarter. Handelsbanken Fonder AB now owns 10,600 shares of the basic materials company’s stock worth $1,692,000 after purchasing an additional 2,800 shares during the period. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

Carpenter Technology Trading Down 0.3 %

CRS stock opened at $193.12 on Monday. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $187.81 and its 200-day moving average is $164.26. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $213.65. The firm has a market cap of $9.63 billion, a P/E ratio of 43.01, a P/E/G ratio of 0.99 and a beta of 1.55.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. Equities analysts anticipate that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is currently 15.09%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRS. JPMorgan Chase & Co. upped their price target on shares of Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, Carpenter Technology presently has a consensus rating of “Moderate Buy” and an average target price of $155.50.

Carpenter Technology 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.