Silvant Capital Management LLC Invests $5 Million in Carpenter Technology Corporation $CRS

Silvant Capital Management LLC acquired a new stake in Carpenter Technology Corporation (NYSE:CRS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,108 shares of the basic materials company’s stock, valued at approximately $5,001,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vise Technologies Inc. acquired a new stake in Carpenter Technology during the 2nd quarter worth approximately $1,216,000. Lisanti Capital Growth LLC acquired a new position in Carpenter Technology during the second quarter valued at approximately $7,195,000. AssuredPartners Investment Advisors LLC acquired a new position in Carpenter Technology during the second quarter valued at approximately $347,000. West Family Investments Inc. purchased a new stake in Carpenter Technology during the second quarter worth approximately $532,000. Finally, NewEdge Wealth LLC purchased a new stake in Carpenter Technology during the second quarter worth approximately $1,289,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Down 4.0%

NYSE CRS opened at $489.66 on Friday. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The business has a 50 day moving average price of $568.19 and a two-hundred day moving average price of $468.44. The stock has a market cap of $24.27 billion, a PE ratio of 46.55, a P/E/G ratio of 1.85 and a beta of 1.25.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The company had revenue of $679.70 million for the quarter, compared to analyst estimates of $863.33 million. During the same quarter last year, the firm posted $2.21 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts predict that Carpenter Technology Corporation will post 12.92 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology’s dividend payout ratio (DPR) is presently 7.60%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRS. Wells Fargo & Company increased their price objective on shares of Carpenter Technology from $425.00 to $540.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Susquehanna reduced their target price on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $500.00 price target on shares of Carpenter Technology in a research report on Thursday, April 30th. TD Cowen increased their price target on Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, BTIG Research raised their price objective on Carpenter Technology from $450.00 to $620.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One investment 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price 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.