Carpenter Technology Co. (NYSE:CRS) Shares Bought by Hanseatic Management Services Inc.

Hanseatic Management Services Inc. lifted its holdings in Carpenter Technology Co. (NYSE:CRS) by 10,223.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,781 shares of the basic materials company’s stock after purchasing an additional 5,725 shares during the quarter. Carpenter Technology accounts for approximately 1.3% of Hanseatic Management Services Inc.’s holdings, making the stock its 27th largest position. Hanseatic Management Services Inc.’s holdings in Carpenter Technology were worth $923,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Advisor Resource Council bought a new position in Carpenter Technology in the 3rd quarter valued at about $326,000. Roman Butler Fullerton & Co. acquired a new position in shares of Carpenter Technology during the third quarter valued at approximately $1,288,000. Forum Financial Management LP acquired a new position in shares of Carpenter Technology during the third quarter valued at approximately $231,000. Harbor Capital Advisors Inc. raised its holdings 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 purchasing an additional 30,901 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in Carpenter Technology in the third quarter worth approximately $476,000. 92.03% of the stock is owned by institutional investors and hedge funds.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $178.09 on Thursday. The stock’s fifty day simple moving average is $153.08 and its 200 day simple moving average is $128.14. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 0.78 and a beta of 1.46. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $179.11.

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

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd will be given a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Carpenter Technology’s dividend payout ratio (DPR) is presently 17.82%.

Analyst Upgrades and Downgrades

CRS has been the topic of several research analyst reports. BTIG Research lifted their price target 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 set a $175.00 target price on shares of Carpenter Technology in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.