Roman Butler Fullerton & Co. Acquires New Position in Carpenter Technology Corporation $CRS

Roman Butler Fullerton & Co. acquired a new stake in Carpenter Technology Corporation (NYSE:CRS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,740 shares of the basic materials company’s stock, valued at approximately $2,687,000.

A number of other institutional investors have also recently bought and sold shares of CRS. Jennison Associates LLC acquired a new position in shares of Carpenter Technology in the 1st quarter valued at $317,411,000. Sands Capital Management LLC bought a new position in shares of Carpenter Technology in the 4th quarter worth $195,731,000. Norges Bank acquired a new stake in shares of Carpenter Technology during the fourth quarter worth $195,254,000. TOMS Capital Investment Management LP acquired a new stake in shares of Carpenter Technology during the second quarter worth $106,683,000. Finally, UBS Group AG increased its holdings in Carpenter Technology by 171.2% in the fourth quarter. UBS Group AG now owns 606,501 shares of the basic materials company’s stock valued at $190,951,000 after purchasing an additional 382,865 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CRS shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. Weiss Ratings cut Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. KeyCorp cut their price target on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Susquehanna cut their price target on shares of Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a research report on Friday, July 31st. Finally, Zacks Research raised shares of Carpenter Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Carpenter Technology presently has an average rating of “Buy” and an average price target of $577.25.

Carpenter Technology Stock Performance

Shares of NYSE CRS opened at $543.90 on Monday. The company has a current ratio of 3.81, a quick ratio of 2.23 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $26.96 billion, a P/E ratio of 51.70, a P/E/G ratio of 1.98 and a beta of 1.25. Carpenter Technology Corporation has a 12 month low of $228.00 and a 12 month high of $625.98. The stock has a 50 day moving average of $569.01 and a 200-day moving average of $463.05.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The business had revenue of $679.70 million for the quarter, compared to analysts’ expectations of $863.33 million. During the same quarter in the prior year, the business earned $2.21 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts predict that Carpenter Technology Corporation will post 12.92 EPS for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $0.80 annualized dividend and a dividend yield of 0.1%. Carpenter Technology’s dividend payout ratio is presently 7.60%.

Carpenter Technology 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. It serves to aerospace, defense, medical, transportation, energy, industrial, and consumer markets.