Silvant Capital Management LLC Buys Shares of 8,108 Carpenter Technology Corporation $CRS

Silvant Capital Management LLC purchased a new stake in Carpenter Technology Corporation (NYSE:CRS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,108 shares of the basic materials company’s stock, valued at approximately $5,001,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in Carpenter Technology in the 2nd quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Carpenter Technology during the 1st quarter valued at about $30,000. SJS Investment Consulting Inc. raised its position in Carpenter Technology by 81.8% during the first quarter. SJS Investment Consulting Inc. now owns 80 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 36 shares during the last quarter. Headlands Technologies LLC acquired a new position in Carpenter Technology during the second quarter worth about $43,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Carpenter Technology in the second quarter valued at about $45,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD Cowen increased their price target on shares of Carpenter Technology from $470.00 to $650.00 and gave the company a “buy” rating in a research report on Monday, July 13th. BTIG Research upped their target price on Carpenter Technology from $450.00 to $620.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $500.00 target price on shares of Carpenter Technology in a research note on Thursday, April 30th. Susquehanna lowered their target price on Carpenter Technology from $680.00 to $600.00 and set a “positive” rating on the stock in a report on Friday, July 31st. Finally, KeyCorp dropped their price target on Carpenter Technology from $644.00 to $608.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Carpenter Technology presently has a consensus rating of “Buy” and a consensus target price of $577.25.

Carpenter Technology Trading Down 4.0%

Shares of Carpenter Technology stock opened at $489.66 on Friday. Carpenter Technology Corporation has a fifty-two week low of $228.00 and a fifty-two week high of $625.98. The business’s fifty day moving average is $568.19 and its two-hundred day moving average is $468.44. The company has a quick ratio of 2.23, a current ratio of 3.81 and a debt-to-equity ratio of 0.31. The firm has a market cap of $24.27 billion, a PE ratio of 46.55, a P/E/G ratio of 1.85 and a beta of 1.25.

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

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $0.80 dividend on an annualized basis and a yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is currently 7.60%.

About Carpenter Technology

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.