National Bank of Canada FI Acquires 38,015 Shares of Carpenter Technology Co. (NYSE:CRS)

National Bank of Canada FI boosted its holdings in Carpenter Technology Co. (NYSE:CRS) by 8,300.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,473 shares of the basic materials company’s stock after buying an additional 38,015 shares during the period. National Bank of Canada FI owned approximately 0.08% of Carpenter Technology worth $6,140,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. CWM LLC increased its holdings in shares of Carpenter Technology by 12.6% during the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 103 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Carpenter Technology in the 2nd quarter valued at approximately $247,000. Great Valley Advisor Group Inc. bought a new stake in shares of Carpenter Technology in the 2nd quarter worth approximately $259,000. Neo Ivy Capital Management acquired a new stake in shares of Carpenter Technology during the 2nd quarter worth approximately $1,173,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Carpenter Technology during the second quarter valued at approximately $237,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Trading Down 2.2 %

Shares of Carpenter Technology stock opened at $177.07 on Friday. The stock has a market capitalization of $8.83 billion, a P/E ratio of 39.44, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $198.24. 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 company has a 50-day simple moving average of $172.90 and a 200 day simple moving average of $143.47.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company posted $0.88 earnings per share. Carpenter Technology’s quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts expect that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a $0.20 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Carpenter Technology’s dividend payout ratio is 17.82%.

Wall Street Analysts Forecast Growth

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

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.