Carpenter Technology Co. (NYSE:CRS) Shares Bought by Avala Global LP

Avala Global LP grew its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 21.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 423,700 shares of the basic materials company’s stock after purchasing an additional 73,400 shares during the quarter. Carpenter Technology makes up 4.5% of Avala Global LP’s portfolio, making the stock its 7th largest holding. Avala Global LP owned about 0.85% of Carpenter Technology worth $67,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Arete Wealth Advisors LLC grew its position in shares of Carpenter Technology by 7.5% during the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock worth $384,000 after acquiring an additional 169 shares during the last quarter. Forest Avenue Capital Management LP acquired a new position in Carpenter Technology during the 3rd quarter valued at about $25,262,000. FMR LLC grew its position in Carpenter Technology by 47.1% in the 3rd quarter. FMR LLC now owns 3,465,295 shares of the basic materials company’s stock worth $552,992,000 after purchasing an additional 1,108,963 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Carpenter Technology by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 27,838 shares of the basic materials company’s stock valued at $4,442,000 after purchasing an additional 908 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in shares of Carpenter Technology during the third quarter valued at approximately $229,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRS. Benchmark reissued a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. began coverage on Carpenter Technology in a research note on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price target for the company. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Carpenter Technology Price Performance

Shares of NYSE:CRS opened at $194.04 on Monday. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 0.97 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $198.24. The stock’s 50 day moving average price is $167.49 and its 200 day moving average price is $138.76.

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. The company had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. Equities research analysts anticipate that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Carpenter Technology’s dividend payout ratio (DPR) is 17.82%.

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.