Carpenter Technology Co. (CRS) Holdings Raised by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC raised its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 4.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,374 shares of the basic materials company’s stock after acquiring an additional 1,329 shares during the period. Essex Investment Management Co. LLC owned approximately 0.07% of Carpenter Technology worth $1,849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Citigroup Inc. boosted its stake in shares of Carpenter Technology by 153.9% in the first quarter. Citigroup Inc. now owns 2,511 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 1,522 shares during the period. Zeke Capital Advisors LLC purchased a new position in shares of Carpenter Technology in the second quarter valued at approximately $213,000. Park National Corp OH purchased a new position in shares of Carpenter Technology in the second quarter valued at approximately $214,000. Jane Street Group LLC purchased a new position in shares of Carpenter Technology in the second quarter valued at approximately $220,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Carpenter Technology in the second quarter valued at approximately $222,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Shares of Carpenter Technology stock opened at $55.75 on Thursday. Carpenter Technology Co. has a 52-week low of $41.75 and a 52-week high of $61.49. The company has a quick ratio of 1.35, a current ratio of 3.24 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $2.79 billion, a P/E ratio of 22.21 and a beta of 2.05.

Carpenter Technology (NYSE:CRS) last issued its quarterly earnings results on Thursday, August 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. Carpenter Technology had a net margin of 8.74% and a return on equity of 8.86%. The company had revenue of $618.00 million during the quarter, compared to the consensus estimate of $574.60 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. On average, equities research analysts anticipate that Carpenter Technology Co. will post 3.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Tuesday, October 23rd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, October 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. Carpenter Technology’s dividend payout ratio is currently 32.00%.

Several research analysts have recently commented on the stock. ValuEngine lowered shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Zacks Investment Research lowered shares of Carpenter Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Finally, Longbow Research lowered shares of Carpenter Technology from a “buy” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Monday, June 25th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Carpenter Technology presently has a consensus rating of “Hold” and a consensus target price of $57.75.

Carpenter Technology Company Profile

Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals worldwide. The company operates through two segments, Specialty Alloys Operations and Performance Engineered Products. It offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as drilling tools; and metal powders and parts.

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Institutional Ownership by Quarter for Carpenter Technology (NYSE:CRS)

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