Cavalier Investments LLC Grows Stake in Carpenter Technology Co. (NYSE:CRS)

Cavalier Investments LLC grew its holdings in shares of Carpenter Technology Co. (NYSE:CRS) by 168.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,036 shares of the basic materials company’s stock after buying an additional 26,378 shares during the period. Carpenter Technology accounts for about 2.4% of Cavalier Investments LLC’s investment portfolio, making the stock its 8th biggest holding. Cavalier Investments LLC owned 0.08% of Carpenter Technology worth $7,134,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CRS. Kestra Investment Management LLC bought a new stake in shares of Carpenter Technology during the fourth quarter valued at approximately $25,000. UMB Bank n.a. raised its holdings in Carpenter Technology by 169.0% during the fourth quarter. UMB Bank n.a. now owns 304 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 191 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Carpenter Technology during the third quarter worth approximately $65,000. Wilmington Savings Fund Society FSB bought a new stake in Carpenter Technology during the third quarter worth approximately $80,000. Finally, Morse Asset Management Inc bought a new stake in Carpenter Technology during the third quarter worth approximately $84,000. Institutional investors own 92.03% of the company’s stock.

Carpenter Technology Trading Down 0.3 %

Carpenter Technology stock opened at $199.64 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 3.80. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 37.67, a price-to-earnings-growth ratio of 0.93 and a beta of 1.54. Carpenter Technology Co. has a 1 year low of $62.99 and a 1 year high of $213.65. The firm’s 50 day moving average price is $189.91 and its two-hundred day moving average price is $171.47.

Carpenter Technology (NYSE:CRS) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. On average, research analysts predict that Carpenter Technology Co. will post 6.83 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a $0.20 dividend. The ex-dividend date is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.40%. Carpenter Technology’s dividend payout ratio (DPR) is 15.09%.

Analyst Upgrades and Downgrades

CRS has been the topic of several recent analyst reports. BTIG Research set a $230.00 target price on Carpenter Technology in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Carpenter Technology from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $167.17.

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.