JB Capital LLC Acquires 693 Shares of Carpenter Technology Co. (NYSE:CRS)

JB Capital LLC lifted its holdings in Carpenter Technology Co. (NYSE:CRS) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,808 shares of the basic materials company’s stock after acquiring an additional 693 shares during the period. JB Capital LLC’s holdings in Carpenter Technology were worth $2,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. lifted its stake in shares of Carpenter Technology by 10,223.2% in the 3rd quarter. Hanseatic Management Services Inc. now owns 5,781 shares of the basic materials company’s stock valued at $923,000 after purchasing an additional 5,725 shares during the last quarter. Advisor Resource Council purchased a new stake in Carpenter Technology during the 3rd quarter valued at $326,000. Roman Butler Fullerton & Co. bought a new stake in Carpenter Technology in the third quarter worth $1,288,000. Forum Financial Management LP purchased a new position in Carpenter Technology during the third quarter worth $231,000. Finally, Harbor Capital Advisors Inc. boosted its stake in Carpenter Technology by 76.4% during the third quarter. Harbor Capital Advisors Inc. now owns 71,339 shares of the basic materials company’s stock worth $11,384,000 after buying an additional 30,901 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analysts Set New Price Targets

CRS has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research note on Friday, October 25th. BTIG Research increased their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Carpenter Technology has an average rating of “Moderate Buy” and an average price target of $139.60.

Carpenter Technology Trading Down 1.8 %

CRS stock traded down $3.14 during midday trading on Thursday, reaching $174.96. The company’s stock had a trading volume of 47,590 shares, compared to its average volume of 590,469. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 0.78 and a beta of 1.46. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $179.18. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The stock has a fifty day simple moving average of $153.08 and a two-hundred day simple moving average of $128.14.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.58 by $0.15. The company had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. On average, equities research analysts predict that Carpenter Technology Co. will post 6.68 EPS for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio is presently 17.82%.

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.