Tyro Capital Management LLC Increases Stock Holdings in Carpenter Technology Co. (NYSE:CRS)

Tyro Capital Management LLC raised its stake in Carpenter Technology Co. (NYSE:CRS) by 38.8% in the third quarter, Holdings Channel.com reports. The firm owned 148,749 shares of the basic materials company’s stock after acquiring an additional 41,601 shares during the period. Carpenter Technology makes up approximately 7.5% of Tyro Capital Management LLC’s holdings, making the stock its 4th largest holding. Tyro Capital Management LLC’s holdings in Carpenter Technology were worth $23,737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRS. Strengthening Families & Communities LLC increased its stake in Carpenter Technology by 0.6% during the third quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company’s stock valued at $2,763,000 after acquiring an additional 100 shares during the period. CWM LLC boosted its stake in shares of Carpenter Technology by 12.6% in the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 103 shares in the last quarter. KBC Group NV grew its stake in Carpenter Technology by 13.5% during the third quarter. KBC Group NV now owns 1,355 shares of the basic materials company’s stock worth $216,000 after buying an additional 161 shares during the last quarter. Arete Wealth Advisors LLC increased its holdings in shares of Carpenter Technology by 7.5% during the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company’s stock worth $384,000 after buying an additional 169 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Carpenter Technology by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 178 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Carpenter Technology Price Performance

Shares of CRS opened at $177.07 on Friday. 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 stock has a market cap of $8.83 billion, a P/E ratio of 39.44, a price-to-earnings-growth ratio of 0.90 and a beta of 1.52. The stock’s 50-day moving average price is $172.90 and its two-hundred day moving average price is $143.47. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $198.24.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company had revenue of $717.60 million during the quarter, compared to the consensus estimate of $742.96 million. During the same period in the prior year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Carpenter Technology’s payout ratio is 17.82%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CRS shares. Benchmark reaffirmed a “buy” rating and set a $175.00 price target on shares of Carpenter Technology in a report on Friday, October 25th. JPMorgan Chase & Co. assumed coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Carpenter Technology currently has an average 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.