Qsemble Capital Management LP Acquires Shares of 1,438 Carpenter Technology Co. (NYSE:CRS)

Qsemble Capital Management LP acquired a new stake in Carpenter Technology Co. (NYSE:CRS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,438 shares of the basic materials company’s stock, valued at approximately $229,000.

A number of other hedge funds also recently bought and sold shares of CRS. Strengthening Families & Communities LLC grew its stake in shares of Carpenter Technology by 0.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after buying an additional 100 shares during the period. CWM LLC grew its stake in shares of Carpenter Technology by 12.6% in the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after buying an additional 103 shares during the period. GAMMA Investing LLC boosted its position in shares of Carpenter Technology by 9.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $177,000 after purchasing an additional 136 shares during the period. KBC Group NV boosted its position in shares of Carpenter Technology by 13.5% during the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock worth $216,000 after purchasing an additional 161 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Carpenter Technology by 58.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CRS. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective 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 five have assigned a buy rating to the stock. According to data from MarketBeat, Carpenter Technology has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $194.46 on Thursday. 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 Co. has a 52 week low of $58.87 and a 52 week high of $198.24. The stock has a market capitalization of $9.69 billion, a PE ratio of 42.91, a P/E/G ratio of 0.99 and a beta of 1.46. The firm has a 50 day moving average of $165.00 and a two-hundred day moving average of $137.10.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating 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 company had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. During the same quarter last year, the company posted $0.88 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts predict that Carpenter Technology Co. will post 6.61 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Carpenter Technology’s payout ratio is 17.82%.

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.