Bank of Montreal Can Has $6.90 Million Position in Carpenter Technology Co. (NYSE:CRS)

Bank of Montreal Can trimmed its holdings in Carpenter Technology Co. (NYSE:CRS) by 44.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,368 shares of the basic materials company’s stock after selling 34,179 shares during the quarter. Bank of Montreal Can’s holdings in Carpenter Technology were worth $6,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CRS. American Century Companies Inc. boosted its holdings in shares of Carpenter Technology by 129.5% during the 2nd quarter. American Century Companies Inc. now owns 849,097 shares of the basic materials company’s stock worth $93,044,000 after buying an additional 479,047 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Carpenter Technology by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,485 shares of the basic materials company’s stock valued at $122,794,000 after buying an additional 103,559 shares in the last quarter. Wolf Hill Capital Management LP bought a new stake in Carpenter Technology during the 2nd quarter worth approximately $73,850,000. Fisher Asset Management LLC lifted its holdings in shares of Carpenter Technology by 3.9% in the third quarter. Fisher Asset Management LLC now owns 364,312 shares of the basic materials company’s stock valued at $58,137,000 after purchasing an additional 13,815 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Carpenter Technology by 1,538.1% during the third quarter. Assenagon Asset Management S.A. now owns 213,391 shares of the basic materials company’s stock worth $34,053,000 after buying an additional 200,364 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE CRS opened at $194.67 on Tuesday. The company’s 50 day simple moving average is $167.49 and its two-hundred day simple moving average is $138.96. The stock has a market capitalization of $9.70 billion, a PE ratio of 43.22, a P/E/G ratio of 0.97 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $198.24.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million for the quarter, compared to the consensus estimate of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.88 earnings per share. Analysts predict that Carpenter Technology Co. will post 6.74 earnings per share for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd will be issued a $0.20 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Carpenter Technology’s dividend payout ratio is currently 17.82%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a research note on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective for the company. Benchmark restated a “buy” rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.