Lisanti Capital Growth LLC Acquires New Shares in Carpenter Technology Corporation $CRS

Lisanti Capital Growth LLC bought a new position in Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,665 shares of the basic materials company’s stock, valued at approximately $7,195,000. Carpenter Technology makes up approximately 1.6% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 10th largest holding.

Other hedge funds have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC boosted its position in shares of Carpenter Technology by 1.7% during the second quarter. Wealthcare Advisory Partners LLC now owns 1,148 shares of the basic materials company’s stock valued at $708,000 after buying an additional 19 shares during the last quarter. Meeder Advisory Services Inc. raised its position in Carpenter Technology by 3.7% in the 4th quarter. Meeder Advisory Services Inc. now owns 889 shares of the basic materials company’s stock worth $280,000 after buying an additional 32 shares during the last quarter. Abel Hall LLC raised its position in Carpenter Technology by 3.2% in the 4th quarter. Abel Hall LLC now owns 1,019 shares of the basic materials company’s stock worth $321,000 after buying an additional 32 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in Carpenter Technology by 0.3% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,146 shares of the basic materials company’s stock valued at $3,509,000 after acquiring an additional 34 shares during the period. Finally, Essential Partners LLC lifted its stake in Carpenter Technology by 9.9% during the 1st quarter. Essential Partners LLC now owns 378 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 34 shares during the period. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

CRS has been the topic of a number of recent analyst reports. KeyCorp dropped their price target on shares of Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Weiss Ratings cut shares of Carpenter Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. TD Cowen lifted their target price on shares of Carpenter Technology from $470.00 to $650.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. BTIG Research boosted their target price on shares of Carpenter Technology from $450.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Susquehanna lowered their price target on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Carpenter Technology currently has an average rating of “Buy” and an average price target of $577.25.

Carpenter Technology Trading Down 4.3%

NYSE:CRS opened at $509.03 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.81 and a quick ratio of 2.23. The firm has a market capitalization of $25.23 billion, a price-to-earnings ratio of 48.39, a price-to-earnings-growth ratio of 1.93 and a beta of 1.25. Carpenter Technology Corporation has a one year low of $228.00 and a one year high of $625.98. The business has a fifty day moving average price of $569.66 and a 200-day moving average price of $467.22.

Carpenter Technology (NYSE:CRS) last released its earnings results on Thursday, July 30th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.14. Carpenter Technology had a return on equity of 26.46% and a net margin of 16.96%.The company had revenue of $679.70 million for the quarter, compared to the consensus estimate of $863.33 million. During the same period in the previous year, the business earned $2.21 earnings per share. Carpenter Technology’s quarterly revenue was up 12.6% compared to the same quarter last year. Sell-side analysts forecast that Carpenter Technology Corporation will post 12.92 EPS for the current year.

Carpenter Technology Dividend Announcement

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 paid 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 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is 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.