New Age Alpha Advisors LLC Takes Position in Carpenter Technology Co. (NYSE:CRS)

New Age Alpha Advisors LLC acquired a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,052 shares of the basic materials company's stock, valued at approximately $518,000.

Several other institutional investors also recently modified their holdings of the company. Cerity Partners LLC bought a new position in Carpenter Technology during the third quarter worth about $540,000. The Manufacturers Life Insurance Company lifted its position in shares of Carpenter Technology by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 27,838 shares of the basic materials company's stock valued at $4,442,000 after buying an additional 908 shares during the last quarter. Arete Wealth Advisors LLC lifted its position in shares of Carpenter Technology by 7.5% in the third quarter. Arete Wealth Advisors LLC now owns 2,423 shares of the basic materials company's stock valued at $384,000 after buying an additional 169 shares during the last quarter. Cinctive Capital Management LP bought a new position in shares of Carpenter Technology during the 3rd quarter worth approximately $4,384,000. Finally, Centiva Capital LP increased its holdings in shares of Carpenter Technology by 143.4% during the 3rd quarter. Centiva Capital LP now owns 8,584 shares of the basic materials company's stock worth $1,370,000 after acquiring an additional 5,057 shares during the last quarter. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on CRS. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $167.17.

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Carpenter Technology Stock Performance

Shares of Carpenter Technology stock traded down $15.64 during trading on Friday, reaching $150.90. The company's stock had a trading volume of 1,563,935 shares, compared to its average volume of 723,591. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. The business's 50-day moving average price is $190.40 and its 200-day moving average price is $180.43. Carpenter Technology Co. has a 52 week low of $74.21 and a 52 week high of $213.66. The firm has a market cap of $7.54 billion, a PE ratio of 28.47, a P/E/G ratio of 0.93 and a beta of 1.28.

Carpenter Technology (NYSE:CRS - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. Carpenter Technology had a net margin of 9.34% and a return on equity of 19.88%. Equities analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Tuesday, January 28th. Carpenter Technology's dividend payout ratio is currently 15.09%.

Carpenter Technology 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.