Barclays PLC Acquires 83,930 Shares of Carpenter Technology Co. (NYSE:CRS)

Barclays PLC lifted its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 471.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 101,745 shares of the basic materials company’s stock after purchasing an additional 83,930 shares during the period. Barclays PLC owned 0.20% of Carpenter Technology worth $16,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRS. Fisher Asset Management LLC lifted its position in Carpenter Technology by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after buying an additional 13,815 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Carpenter Technology by 6.0% during the third quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock valued at $3,801,000 after purchasing an additional 1,343 shares during the last quarter. Forest Avenue Capital Management LP bought a new stake in shares of Carpenter Technology during the third quarter valued at approximately $25,262,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after purchasing an additional 103,559 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Carpenter Technology in the 2nd quarter worth approximately $1,460,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CRS shares. Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on Carpenter Technology in a research report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

Carpenter Technology Stock Down 1.7 %

NYSE:CRS opened at $174.09 on Friday. 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 12-month low of $58.87 and a 12-month high of $198.24. The stock’s fifty day simple moving average is $173.18 and its 200-day simple moving average is $144.14. The firm has a market capitalization of $8.68 billion, a P/E ratio of 38.77, a P/E/G ratio of 0.90 and a beta of 1.52.

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. The firm had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. Equities research analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Tuesday, October 22nd. Carpenter Technology’s payout ratio 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.