Lisanti Capital Growth LLC Lowers Stake in Carpenter Technology
According to a recent filing with the Securities and Exchange Commission, Lisanti Capital Growth LLC decreased its holdings in Carpenter Technology Co. (NYSE:CRS) by 46.0% during the fourth quarter of 2024. The fund sold 22,705 shares, leaving them with a total of 26,610 shares of the basic materials company’s stock.
At the close of the quarter, Lisanti Capital Growth LLC’s holdings in Carpenter Technology were valued at $4,516,000, representing 0.05% of the company.
Other Institutional Activity
Several other significant investors also adjusted their positions in Carpenter Technology during the same period.
FMR LLC increased its stake by 47.1% in the third quarter, acquiring an additional 1,108,963 shares, to own a total of 3,465,295 shares valued at $552,992,000.
Geode Capital Management LLC increased its holdings by 1.6% during the third quarter, purchasing an additional 17,497 shares, resulting in a total of 1,100,204 shares worth $175,607,000.
Charles Schwab Investment Management Inc. grew its stake by 15.6% in the third quarter, adding 103,559 shares, for a total of 769,485 shares valued at $122,794,000.
Allspring Global Investments Holdings LLC significantly increased its position by 428.4% in the fourth quarter, purchasing an additional 479,985 shares to reach a total of 592,034 shares, valued at $103,714,000.
Finally, Avala Global LP increased its holdings by 21.0% in the third quarter. The firm purchased an additional 73,400 shares, bringing their total to 423,700 shares, worth $67,614,000.
Institutional investors collectively own 92.03% of the company’s stock.
Carpenter Technology Stock Performance and Financials
On Friday, Carpenter Technology (CRS) opened at $186.36 per share. The company’s 50-day simple moving average is $193.73, and its 200-day simple moving average is $173.80.
The company’s debt-to-equity ratio is 0.40, with a current ratio of 3.80 and a quick ratio of 1.92. Carpenter Technology has a market capitalization of $9.31 billion, a P/E ratio of 35.16, a PEG ratio of 0.93, and a beta of 1.54.
Over the past year, Carpenter Technology’s stock has traded between a low of $63.58 and a high of $213.66.
Recent Earnings and Dividends
Carpenter Technology last released its earnings results on January 30th, reporting earnings per share of $1.66 for the quarter, surpassing the consensus estimate of $1.58. The basic materials company also reported a net margin of 9.34% and a return on equity of 19.88%.
Analysts forecast that Carpenter Technology Co. will achieve earnings per share of $6.83 for the current fiscal year.
Furthermore, the company recently announced a quarterly dividend of $0.20 per share, paid on March 6th to investors of record on February 28th. This translates to an annualized dividend of $0.80 and a dividend yield of 0.43%. The ex-dividend date was January 28th. Carpenter Technology’s dividend payout ratio is currently 15.09%.
Analyst Ratings
Several research firms have recently offered their assessment of Carpenter Technology. JPMorgan Chase & Co. increased its target price on shares of Carpenter Technology from $235.00 to $240.00 and assigned an “overweight” rating on February 19th. BTIG Research set a price objective of $230.00 in a research note on January 31st.
Current analyst ratings include one sell rating and five buy ratings. According to data from MarketBeat.com, the consensus rating for the stock is a “Moderate Buy,” with a consensus price target of $167.17.
About Carpenter Technology
Carpenter Technology Corporation manufactures, fabricates, and distributes specialty metals across the United States and internationally. The company operates through two segments: Specialty Alloys Operations and Performance Engineered Products. Its offerings include various specialty alloys, such as titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, metal powders and parts.
