GSA Capital Partners LLP Makes New Investment in Carpenter Technology Co. (NYSE:CRS)

GSA Capital Partners LLP purchased a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,875 shares of the basic materials company’s stock, valued at approximately $2,214,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Eagle Investment Management LLC increased its position in Carpenter Technology by 13.2% in the 1st quarter. First Eagle Investment Management LLC now owns 149,354 shares of the basic materials company’s stock valued at $10,667,000 after acquiring an additional 17,400 shares during the period. Comerica Bank raised its stake in shares of Carpenter Technology by 170.3% during the first quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock valued at $4,812,000 after purchasing an additional 42,449 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Carpenter Technology in the first quarter worth about $1,347,000. Moody National Bank Trust Division bought a new position in Carpenter Technology in the 2nd quarter valued at about $1,208,000. Finally, Blair William & Co. IL acquired a new stake in shares of Carpenter Technology in the 1st quarter worth approximately $307,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CRS shares. BTIG Research raised their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark reiterated a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

Carpenter Technology Stock Up 1.0 %

CRS stock opened at $178.87 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. The firm has a market cap of $8.92 billion, a PE ratio of 39.84, a P/E/G ratio of 0.89 and a beta of 1.46. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $182.52. The firm has a 50 day simple moving average of $155.05 and a 200 day simple moving average of $130.52.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. During the same period in the previous year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts forecast that Carpenter Technology Co. will post 6.68 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be given a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Carpenter Technology’s dividend payout ratio (DPR) 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.