Crossmark Global Holdings Inc. Acquires 537 Shares of Carpenter Technology Co. (NYSE:CRS)

Crossmark Global Holdings Inc. raised its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 16.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,893 shares of the basic materials company’s stock after purchasing an additional 537 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Carpenter Technology were worth $621,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Comerica Bank boosted its position in shares of Carpenter Technology by 170.3% during the first quarter. Comerica Bank now owns 67,380 shares of the basic materials company’s stock valued at $4,812,000 after purchasing an additional 42,449 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Carpenter Technology during the 1st quarter valued at $1,347,000. Moody National Bank Trust Division purchased a new stake in shares of Carpenter Technology in the 2nd quarter worth about $1,208,000. Blair William & Co. IL bought a new position in shares of Carpenter Technology in the 1st quarter worth about $307,000. Finally, Vanguard Group Inc. lifted its position in Carpenter Technology by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,686,022 shares of the basic materials company’s stock valued at $406,096,000 after acquiring an additional 15,564 shares during the period. 92.03% of the stock is owned by institutional investors.

Carpenter Technology Trading Up 2.0 %

Shares of NYSE CRS opened at $175.44 on Friday. The company has a market cap of $8.75 billion, a PE ratio of 39.07, a P/E/G ratio of 0.89 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The firm’s 50 day moving average price is $158.32 and its 200-day moving average price is $132.41. Carpenter Technology Co. has a 52-week low of $58.87 and a 52-week high of $182.52.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.15. The business had revenue of $717.60 million for 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%. During the same period in the prior year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities research analysts expect that Carpenter Technology Co. will post 6.68 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Tuesday, October 22nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is 17.82%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRS shares. BTIG Research raised their target price on shares of Carpenter Technology from $120.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Benchmark reaffirmed a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $139.60.

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.