Curi RMB Capital LLC Purchases 619 Shares of Carpenter Technology Co. (NYSE:CRS)

Curi RMB Capital LLC boosted its position in shares of Carpenter Technology Co. (NYSE:CRS) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 149,929 shares of the basic materials company’s stock after purchasing an additional 619 shares during the quarter. Curi RMB Capital LLC’s holdings in Carpenter Technology were worth $23,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CRS. Vanguard Group Inc. raised its stake in shares of Carpenter Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock worth $406,096,000 after buying an additional 15,564 shares during the last quarter. American Century Companies Inc. grew its holdings in Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after acquiring an additional 479,047 shares during the period. Wolf Hill Capital Management LP bought a new stake in shares of Carpenter Technology during the 2nd quarter valued at $73,850,000. Bayberry Capital Partners LP bought a new stake in shares of Carpenter Technology during the 1st quarter valued at $35,887,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Carpenter Technology by 1,538.1% during the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock worth $34,053,000 after buying an additional 200,364 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BTIG Research boosted their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Benchmark restated a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

Carpenter Technology Price Performance

NYSE:CRS opened at $177.03 on Thursday. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $182.52. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 39.43, a P/E/G ratio of 0.89 and a beta of 1.46. The stock’s 50 day moving average price is $156.73 and its two-hundred day moving average price is $131.49. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

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

Carpenter Technology Announces Dividend

The firm 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio is 17.82%.

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.