Inceptionr LLC acquired a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,722 shares of the basic materials company's stock, valued at approximately $462,000.
A number of other large investors have also recently made changes to their positions in CRS. Stratos Wealth Partners LTD. grew its position in Carpenter Technology by 2.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,415 shares of the basic materials company's stock worth $410,000 after acquiring an additional 63 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Carpenter Technology by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock valued at $258,000 after purchasing an additional 78 shares during the last quarter. 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 worth $2,763,000 after purchasing an additional 100 shares during the period. Fifth Third Bancorp increased its position in shares of Carpenter Technology by 23.5% during the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock valued at $97,000 after purchasing an additional 109 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its holdings in Carpenter Technology by 1.2% during the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company's stock valued at $1,663,000 after buying an additional 115 shares during the period. 92.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on CRS shares. JPMorgan Chase & Co. lifted their price objective on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. BTIG Research set a $230.00 price target on shares of Carpenter Technology in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, Carpenter Technology presently has an average rating of "Moderate Buy" and an average target price of $167.17.
Read Our Latest Analysis on CRS
Carpenter Technology Trading Up 0.8 %
Shares of CRS traded up $1.35 during trading hours on Wednesday, reaching $181.76. 529,817 shares of the company traded hands, compared to its average volume of 663,318. The stock's fifty day moving average price is $194.46 and its 200 day moving average price is $175.03. The company has a current ratio of 3.80, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 0.93 and a beta of 1.55. Carpenter Technology Co. has a 12-month low of $63.58 and a 12-month high of $213.66.
Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.
Carpenter Technology Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Friday, February 28th were issued a $0.20 dividend. The ex-dividend date was Tuesday, January 28th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Carpenter Technology's dividend payout ratio is currently 15.09%.
About Carpenter Technology
(
Free Report)
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.
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