Lee Johnson Capital Management LLC Takes Position in Carpenter Technology Corporation $CRS

Lee Johnson Capital Management LLC bought a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,013 shares of the basic materials company’s stock, valued at approximately $1,242,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Carpenter Technology in the 1st quarter worth approximately $30,000. SJS Investment Consulting Inc. boosted its stake in shares of Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 36 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Carpenter Technology during the second quarter valued at approximately $55,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Carpenter Technology in the second quarter worth approximately $56,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Carpenter Technology by 1,228.6% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 93 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 86 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors.

Carpenter Technology Price Performance

Shares of CRS stock opened at $540.83 on Tuesday. The firm has a market cap of $26.80 billion, a P/E ratio of 51.41, a P/E/G ratio of 1.98 and a beta of 1.25. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The business’s 50 day moving average price is $569.82 and its 200-day moving average price is $464.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.23 and a current ratio of 3.81.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.14. The firm had revenue of $679.70 million for the quarter, compared to analysts’ expectations of $863.33 million. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The business’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 earnings per share. On average, equities research analysts anticipate that Carpenter Technology Corporation will post 12.92 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology’s payout ratio is presently 7.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Wells Fargo & Company increased their price target on shares of Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. KeyCorp cut their price target on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Weiss Ratings cut shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Finally, Susquehanna lowered their price objective on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating for the company in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $577.25.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.