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

Focus Partners Advisor Solutions LLC bought a new position in shares of Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,018 shares of the basic materials company’s stock, valued at approximately $3,095,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Carpenter Technology in the second quarter worth $28,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Carpenter Technology in the 1st quarter valued at $30,000. SJS Investment Consulting Inc. grew its stake in Carpenter Technology by 81.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock valued at $32,000 after buying an additional 36 shares during the last quarter. Headlands Technologies LLC bought a new position in Carpenter Technology in the 2nd quarter worth $43,000. Finally, Rakuten Securities Inc. bought a new position in Carpenter Technology in the 2nd quarter worth $45,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Trading Up 1.6%

Shares of CRS stock opened at $543.90 on Friday. Carpenter Technology Corporation has a 1 year low of $228.00 and a 1 year high of $625.98. The firm’s fifty day simple moving average is $569.01 and its 200 day simple moving average is $462.25. The firm has a market capitalization of $26.96 billion, a P/E ratio of 51.70, a price-to-earnings-growth ratio of 1.98 and a beta of 1.25. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31.

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

Carpenter Technology Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRS. JPMorgan Chase & Co. decreased their price target on shares of Carpenter Technology from $705.00 to $700.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Zacks Research upgraded Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. TD Cowen boosted their price objective on Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. BTIG Research boosted their price objective on Carpenter Technology from $450.00 to $620.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $577.25.

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