5,018 Shares in Carpenter Technology Corporation $CRS Purchased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC bought a new stake in shares of Carpenter Technology Corporation (NYSE:CRS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,018 shares of the basic materials company’s stock, valued at approximately $3,095,000.

A number of other large investors also recently made changes to their positions in CRS. Jennison Associates LLC acquired a new stake in shares of Carpenter Technology during the first quarter worth approximately $317,411,000. Sands Capital Management LLC purchased a new stake in Carpenter Technology in the 4th quarter worth approximately $195,731,000. Norges Bank purchased a new stake in Carpenter Technology in the 4th quarter worth approximately $195,254,000. TOMS Capital Investment Management LP acquired a new stake in shares of Carpenter Technology during the 2nd quarter valued at $106,683,000. Finally, UBS Group AG boosted its stake in shares of Carpenter Technology by 171.2% during the 4th quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after buying an additional 382,865 shares during the period. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CRS has been the topic of a number of research reports. Weiss Ratings downgraded shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $500.00 price objective on shares of Carpenter Technology in a research report on Thursday, April 30th. Wells Fargo & Company boosted their target price on Carpenter Technology from $425.00 to $540.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Susquehanna dropped their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. cut their price target on Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $577.25.

Carpenter Technology Stock Performance

CRS stock opened at $543.90 on Friday. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 51.70, a P/E/G ratio of 1.98 and a beta of 1.25. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $625.98. The firm has a 50 day moving average of $569.01 and a two-hundred day moving average of $462.25.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a net margin of 16.96% and a return on equity of 26.46%. The business had revenue of $679.70 million for the quarter, compared to the consensus estimate of $863.33 million. During the same quarter last year, the firm earned $2.21 EPS. Carpenter Technology’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities analysts anticipate that Carpenter Technology Corporation will post 12.92 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Tuesday, August 25th. Carpenter Technology’s dividend payout ratio is presently 7.60%.

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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.