Virtue Capital Management LLC Purchases Shares of 5,391 Carpenter Technology Co. (NYSE:CRS)

Virtue Capital Management LLC acquired a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,391 shares of the basic materials company's stock, valued at approximately $860,000.

Several other institutional investors have also modified their holdings of the company. CWM LLC increased its stake in Carpenter Technology by 12.6% in the 2nd quarter. CWM LLC now owns 921 shares of the basic materials company's stock valued at $101,000 after buying an additional 103 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Carpenter Technology in the second quarter worth $247,000. Great Valley Advisor Group Inc. acquired a new position in shares of Carpenter Technology in the second quarter valued at approximately $259,000. Neo Ivy Capital Management purchased a new position in Carpenter Technology during the second quarter worth approximately $1,173,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Carpenter Technology during the second quarter valued at about $237,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

Carpenter Technology Price Performance

Shares of Carpenter Technology stock traded down $0.69 during midday trading on Wednesday, reaching $181.02. The company had a trading volume of 675,233 shares, compared to its average volume of 594,050. The stock has a fifty day simple moving average of $171.97 and a 200 day simple moving average of $142.97. Carpenter Technology Co. has a 1-year low of $58.87 and a 1-year high of $198.24. The company has a current ratio of 3.84, a quick ratio of 2.00 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52.

Carpenter Technology (NYSE:CRS - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.15. The business had revenue of $717.60 million during the quarter, compared to analysts' expectations of $742.96 million. Carpenter Technology had a net margin of 8.05% and a return on equity of 18.01%. The firm's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, equities research analysts forecast that Carpenter Technology Co. will post 6.74 earnings per share for the current year.

Carpenter Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Tuesday, October 22nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $0.80 annualized dividend and a yield of 0.44%. Carpenter Technology's dividend payout ratio (DPR) is presently 17.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CRS shares. JPMorgan Chase & Co. began coverage on shares of Carpenter Technology in a research report on Friday, November 22nd. They set an "overweight" rating and a $220.00 target price on the stock. Benchmark reiterated a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a research report on Friday, October 25th. 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 currently has an average rating of "Moderate Buy" and an average target price 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.