Carpenter Technology Co. (NYSE:CRS) is Avala Global LP’s 7th Largest Position

Avala Global LP increased its stake in Carpenter Technology Co. (NYSE:CRS) by 21.0% during the third quarter, HoldingsChannel reports. The firm owned 423,700 shares of the basic materials company’s stock after acquiring an additional 73,400 shares during the period. Carpenter Technology accounts for approximately 4.5% of Avala Global LP’s holdings, making the stock its 7th biggest position. Avala Global LP’s holdings in Carpenter Technology were worth $67,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRS. Comerica Bank lifted its position in shares of Carpenter Technology by 170.3% in the first quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock worth $4,812,000 after purchasing an additional 42,449 shares in the last quarter. Fisher Asset Management LLC lifted its position in Carpenter Technology by 3.9% in the 3rd quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock worth $58,137,000 after buying an additional 13,815 shares in the last quarter. Natixis Advisors LLC lifted its position in Carpenter Technology by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 23,817 shares of the basic materials company’s stock worth $3,801,000 after buying an additional 1,343 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of Carpenter Technology during the 2nd quarter valued at $1,460,000. Finally, Forest Avenue Capital Management LP purchased a new position in shares of Carpenter Technology during the 3rd quarter valued at $25,262,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Carpenter Technology Stock Down 0.2 %

CRS stock opened at $194.04 on Monday. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The firm has a market cap of $9.67 billion, a PE ratio of 43.22, a PEG ratio of 0.97 and a beta of 1.46. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $198.24. The company has a fifty day simple moving average of $167.49 and a 200 day simple moving average of $138.76.

Carpenter Technology (NYSE:CRS) last announced 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. The company had revenue of $717.60 million during the quarter, compared to analysts’ expectations of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Sell-side analysts anticipate that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

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

Analyst Ratings Changes

CRS has been the subject of several recent research reports. JPMorgan Chase & Co. began coverage on Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $175.00 target price on shares of Carpenter Technology in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, Carpenter Technology has a consensus rating of “Moderate Buy” and a consensus target price of $153.00.

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.