Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its stake in Carpenter Technology Co. (NYSE:CRS) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 364,312 shares of the basic materials company’s stock after buying an additional 13,815 shares during the period. Fisher Asset Management LLC’s holdings in Carpenter Technology were worth $58,137,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new stake in shares of Carpenter Technology in the 2nd quarter worth about $33,000. National Bank of Canada FI acquired a new position in shares of Carpenter Technology during the second quarter worth approximately $49,000. EverSource Wealth Advisors LLC grew its holdings in Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after buying an additional 178 shares in the last quarter. nVerses Capital LLC acquired a new stake in Carpenter Technology in the 3rd quarter valued at approximately $64,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Carpenter Technology in the 3rd quarter valued at approximately $65,000. 92.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRS has been the subject of several recent analyst reports. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research note on Friday. They issued an “overweight” rating and a $220.00 price target for the company. Benchmark reiterated a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. Finally, BTIG Research boosted their price target 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. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.00.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock opened at $195.23 on Tuesday. Carpenter Technology Co. has a 52 week low of $58.87 and a 52 week high of $197.68. 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 stock has a market cap of $9.73 billion, a PE ratio of 43.48, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46. The company’s 50-day moving average price is $163.94 and its two-hundred day moving average price is $136.46.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to the consensus estimate 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 for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. As a group, sell-side analysts anticipate that Carpenter Technology Co. will post 6.61 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio is presently 17.82%.

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.