15,658 Shares in Carpenter Technology Co. (NYSE:CRS) Purchased by Cavalier Investments LLC

Cavalier Investments LLC bought a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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. Park Edge Advisors LLC purchased a new position in Carpenter Technology during the 3rd quarter valued at $237,000. Wealth Enhancement Advisory Services LLC grew its stake in Carpenter Technology by 2.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,948 shares of the basic materials company’s stock worth $1,907,000 after acquiring an additional 319 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Carpenter Technology by 15,857.7% during the third quarter. Pathway Financial Advisers LLC now owns 23,777 shares of the basic materials company’s stock worth $3,794,000 after acquiring an additional 23,628 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of 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 valued at $34,053,000 after acquiring an additional 200,364 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of Carpenter Technology by 3.8% in the third quarter. Private Advisor Group LLC now owns 5,300 shares of the basic materials company’s stock valued at $846,000 after purchasing an additional 196 shares during the period. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Price Performance

NYSE CRS opened at $155.47 on Monday. The firm’s fifty day simple moving average is $150.28 and its two-hundred day simple moving average is $123.82. The firm has a market capitalization of $7.71 billion, a P/E ratio of 59.11, a P/E/G ratio of 0.83 and a beta of 1.45. The company has a current ratio of 3.41, a quick ratio of 1.84 and a debt-to-equity ratio of 0.43. Carpenter Technology Co. has a 12-month low of $58.87 and a 12-month high of $166.51.

Carpenter Technology (NYSE:CRS) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 15.81% and a net margin of 6.76%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. Analysts forecast that Carpenter Technology Co. will post 6.63 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is presently 30.42%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CRS shares. BTIG Research lifted their target price on Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Benchmark reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research note on Friday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.