Carpenter Technology Co. (NYSE:CRS) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in Carpenter Technology Co. (NYSE:CRS) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 364,312 shares of the basic materials company’s stock after purchasing an additional 13,815 shares during the quarter. Fisher Asset Management LLC owned about 0.73% of Carpenter Technology worth $58,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co raised its holdings in shares of Carpenter Technology by 17.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,698 shares of the basic materials company’s stock valued at $3,551,000 after buying an additional 7,562 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Carpenter Technology by 26.8% during the first quarter. Advisors Asset Management Inc. now owns 21,015 shares of the basic materials company’s stock valued at $1,501,000 after purchasing an additional 4,438 shares during the period. Comerica Bank lifted its position 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 worth $4,812,000 after purchasing an additional 42,449 shares in the last quarter. Bright Futures Wealth Management LLC. purchased a new position in shares of Carpenter Technology in the first quarter valued at $202,000. Finally, GAMMA Investing LLC grew its holdings in Carpenter Technology by 9.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $177,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analysts Set New Price Targets

CRS has been the topic of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. BTIG Research increased their price target on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. initiated coverage on Carpenter Technology in a report on Friday. They set an “overweight” rating and a $220.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.00.

Carpenter Technology Trading Up 2.2 %

Shares of NYSE CRS opened at $195.23 on Tuesday. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average price is $163.94 and its two-hundred day moving average price is $136.46. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $197.68. The stock has a market capitalization of $9.73 billion, a P/E ratio of 43.48, a PEG ratio of 0.97 and a beta of 1.46.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. On average, analysts anticipate that Carpenter Technology Co. will post 6.61 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Tuesday, October 22nd. 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.