Pelham Capital Ltd. Makes New $7.29 Million Investment in Carpenter Technology Co. (NYSE:CRS)

Pelham Capital Ltd. purchased a new position in Carpenter Technology Co. (NYSE:CRS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 42,960 shares of the basic materials company’s stock, valued at approximately $7,291,000. Carpenter Technology comprises approximately 4.3% of Pelham Capital Ltd.’s holdings, making the stock its 8th largest position. Pelham Capital Ltd. owned 0.09% of Carpenter Technology at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 191 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Carpenter Technology in the 3rd quarter valued at about $64,000. Banque Cantonale Vaudoise purchased a new stake in shares of Carpenter Technology in the third quarter worth about $65,000. Wilmington Savings Fund Society FSB acquired a new stake in Carpenter Technology during the third quarter worth about $80,000. Finally, Morse Asset Management Inc purchased a new position in Carpenter Technology during the third quarter valued at approximately $84,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRS has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of Carpenter Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.50.

Carpenter Technology Stock Performance

NYSE:CRS opened at $187.93 on Friday. The stock has a market capitalization of $9.39 billion, a PE ratio of 35.46, a P/E/G ratio of 0.88 and a beta of 1.54. The company has a fifty day moving average of $187.40 and a two-hundred day moving average of $166.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. Carpenter Technology Co. has a fifty-two week low of $60.65 and a fifty-two week high of $213.65.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. As a group, research analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm 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 $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is currently 15.09%.

About Carpenter Technology

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.