Main Street Financial Solutions LLC Purchases Shares of 1,408 Carpenter Technology Co. (NYSE:CRS)

Main Street Financial Solutions LLC purchased a new position in shares of Carpenter Technology Co. (NYSE:CRS) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,408 shares of the basic materials company’s stock, valued at approximately $225,000.

Other hedge funds have also recently modified their holdings of the company. Kimelman & Baird LLC purchased a new stake in Carpenter Technology during the 2nd quarter worth approximately $33,000. National Bank of Canada FI acquired a new position in shares of Carpenter Technology in the 2nd quarter valued at $49,000. EverSource Wealth Advisors LLC raised its stake in Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 178 shares during the last quarter. Covestor Ltd grew its stake in Carpenter Technology by 469.2% during the 1st quarter. Covestor Ltd now owns 831 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 685 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Carpenter Technology in the third quarter valued at about $64,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. BTIG Research upped their price objective on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.60.

Carpenter Technology Stock Up 2.0 %

Shares of CRS stock opened at $175.44 on Friday. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $182.52. The stock has a market cap of $8.75 billion, a P/E ratio of 39.07, a P/E/G ratio of 0.89 and a beta of 1.46. The stock has a 50 day moving average of $158.32 and a 200 day moving average of $132.41. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last posted its earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.15. The firm had revenue of $717.60 million during the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. As a group, sell-side analysts expect that Carpenter Technology Co. will post 6.68 EPS for the current year.

Carpenter Technology Dividend Announcement

The firm also recently announced 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) 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.