Curi RMB Capital LLC Buys 619 Shares of Carpenter Technology Co. (NYSE:CRS)

Curi RMB Capital LLC raised its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 149,929 shares of the basic materials company’s stock after purchasing an additional 619 shares during the quarter. Curi RMB Capital LLC owned 0.30% of Carpenter Technology worth $23,926,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Wolf Hill Capital Management LP acquired a new stake in Carpenter Technology during the second quarter worth $73,850,000. Bayberry Capital Partners LP bought a new stake in Carpenter Technology in the first quarter valued at about $35,887,000. American Century Companies Inc. raised its position 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 worth $93,044,000 after purchasing an additional 479,047 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Carpenter Technology by 1,538.1% during the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock worth $34,053,000 after purchasing an additional 200,364 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Carpenter Technology during the second quarter valued at approximately $13,248,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE:CRS opened at $177.03 on Thursday. The stock has a market capitalization of $8.82 billion, a P/E ratio of 39.43, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $182.52. The firm has a 50 day moving average of $156.73 and a 200-day moving average of $131.49. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Carpenter Technology Co. will post 6.68 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s payout ratio is presently 17.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CRS shares. Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. BTIG Research increased their price objective on Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $139.60.

About Carpenter Technology

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.