Cavalier Investments LLC Takes Position in Carpenter Technology Co. (NYSE:CRS)

Cavalier Investments LLC bought a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,658 shares of the basic materials company’s stock, valued at approximately $2,499,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Carpenter Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock valued at $406,096,000 after purchasing an additional 15,564 shares in the last quarter. American Century Companies Inc. increased its holdings in Carpenter Technology by 129.5% in the second quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock valued at $93,044,000 after buying an additional 479,047 shares in the last quarter. Wolf Hill Capital Management LP acquired a new position in shares of Carpenter Technology in the second quarter worth about $73,850,000. Bayberry Capital Partners LP purchased a new stake in shares of Carpenter Technology during the 1st quarter worth about $35,887,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Carpenter Technology by 1,538.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock valued at $34,053,000 after acquiring an additional 200,364 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CRS shares. BTIG Research lifted their price target on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark reissued a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.60.

Carpenter Technology Trading Up 0.7 %

Shares of Carpenter Technology stock opened at $155.47 on Monday. Carpenter Technology Co. has a fifty-two week low of $58.87 and a fifty-two week high of $166.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.84 and a current ratio of 3.41. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 59.11, a PEG ratio of 0.83 and a beta of 1.45. The stock has a 50 day moving average of $150.28 and a 200 day moving average of $123.82.

Carpenter Technology (NYSE:CRS) last issued its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.15. Carpenter Technology had a net margin of 6.76% and a return on equity of 15.81%. The firm had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $742.96 million. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Carpenter Technology Co. will post 6.63 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Carpenter Technology’s payout ratio is currently 30.42%.

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.