Optimize Financial Inc bought a new position in Carpenter Technology Co. (NYSE:CRS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,891 shares of the basic materials company's stock, valued at approximately $321,000.
Other hedge funds also recently modified their holdings of the company. Stratos Wealth Partners LTD. boosted its holdings 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 purchasing an additional 63 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Carpenter Technology by 11.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 669 shares of the basic materials company's stock worth $114,000 after acquiring an additional 71 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Carpenter Technology by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,521 shares of the basic materials company's stock valued at $258,000 after acquiring an additional 78 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Carpenter Technology by 23.5% in the 4th quarter. Fifth Third Bancorp now owns 573 shares of the basic materials company's stock valued at $97,000 after acquiring an additional 109 shares in the last quarter. Finally, Wesbanco Bank Inc. lifted its holdings in Carpenter Technology by 1.2% in the 4th quarter. Wesbanco Bank Inc. now owns 9,797 shares of the basic materials company's stock worth $1,663,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CRS. BTIG Research set a $230.00 price objective on shares of Carpenter Technology in a research note on Friday, January 31st. Northcoast Research upgraded shares of Carpenter Technology from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Carpenter Technology from $235.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $167.17.
Read Our Latest Research Report on Carpenter Technology
Carpenter Technology Stock Performance
NYSE CRS traded up $1.83 during midday trading on Tuesday, hitting $174.85. The company had a trading volume of 943,919 shares, compared to its average volume of 738,987. The firm has a fifty day simple moving average of $184.79 and a two-hundred day simple moving average of $180.56. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 32.99, a P/E/G ratio of 0.93 and a beta of 1.28. The company has a quick ratio of 1.92, a current ratio of 3.80 and a debt-to-equity ratio of 0.40. Carpenter Technology Co. has a fifty-two week low of $74.21 and a fifty-two week high of $213.66.
Carpenter Technology (NYSE:CRS - Get Free Report) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.08. Carpenter Technology had a return on equity of 19.88% and a net margin of 9.34%. Equities analysts forecast that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.
Carpenter Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Tuesday, April 22nd. Carpenter Technology's dividend payout ratio is presently 15.09%.
Carpenter Technology Company Profile
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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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