Cerity Partners LLC Takes Position in Carpenter Technology Co. (NYSE:CRS)

Cerity Partners LLC purchased a new position in shares of Carpenter Technology Co. (NYSE:CRS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,385 shares of the basic materials company's stock, valued at approximately $540,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Strengthening Families & Communities LLC boosted its holdings in shares of Carpenter Technology by 0.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 17,314 shares of the basic materials company's stock valued at $2,763,000 after purchasing an additional 100 shares in the last quarter. CWM LLC lifted its holdings in shares of Carpenter Technology by 12.6% in the second quarter. CWM LLC now owns 921 shares of the basic materials company's stock worth $101,000 after acquiring an additional 103 shares during the last quarter. KBC Group NV boosted its stake in shares of Carpenter Technology by 13.5% in the 3rd quarter. KBC Group NV now owns 1,355 shares of the basic materials company's stock valued at $216,000 after purchasing an additional 161 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Carpenter Technology by 58.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 178 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in Carpenter Technology by 8.9% in the third quarter. First Trust Direct Indexing L.P. now owns 2,212 shares of the basic materials company's stock valued at $353,000 after buying an additional 180 shares in the last quarter. Institutional investors own 92.03% of the company's stock.

Carpenter Technology Trading Down 0.7 %

Shares of NYSE CRS traded down $1.34 during mid-day trading on Friday, hitting $193.52. The stock had a trading volume of 497,231 shares, compared to its average volume of 539,714. The business has a 50 day moving average price of $171.01 and a two-hundred day moving average price of $141.92. Carpenter Technology Co. has a 1 year low of $58.87 and a 1 year high of $198.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.00 and a current ratio of 3.84. The firm has a market cap of $9.65 billion, a P/E ratio of 43.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its 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 firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, equities analysts anticipate that Carpenter Technology Co. will post 6.74 EPS for the current fiscal year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Tuesday, October 22nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Tuesday, October 22nd. Carpenter Technology's payout ratio is currently 17.82%.

Analyst Ratings Changes

CRS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They issued an "overweight" rating and a $220.00 price target on the stock. Benchmark reiterated a "buy" rating and set a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, Carpenter Technology has a consensus rating of "Moderate Buy" and an average price target 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.