Wealthstar Advisors LLC Buys Shares of 3,056 Carpenter Technology Co. (NYSE:CRS)

Wealthstar Advisors LLC bought a new stake in Carpenter Technology Co. (NYSE:CRS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,056 shares of the basic materials company's stock, valued at approximately $519,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its holdings in shares of Carpenter Technology by 169.0% in the 4th quarter. UMB Bank n.a. now owns 304 shares of the basic materials company's stock worth $52,000 after acquiring an additional 191 shares during the last quarter. nVerses Capital LLC purchased a new stake in Carpenter Technology in the third quarter valued at approximately $64,000. Banque Cantonale Vaudoise acquired a new position in Carpenter Technology during the third quarter worth $65,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Carpenter Technology during the third quarter worth $80,000. Finally, Morse Asset Management Inc purchased a new position in shares of Carpenter Technology during the third quarter worth $84,000. Hedge funds and other institutional investors own 92.03% of the company's stock.

Carpenter Technology Stock Down 1.8 %

Carpenter Technology stock traded down $3.40 during midday trading on Thursday, reaching $183.19. The company's stock had a trading volume of 571,427 shares, compared to its average volume of 704,084. The company has a market cap of $9.15 billion, a P/E ratio of 34.56, a P/E/G ratio of 0.88 and a beta of 1.54. 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 has a 50-day simple moving average of $186.77 and a 200-day simple moving average of $167.67. Carpenter Technology Co. has a fifty-two week low of $61.31 and a fifty-two week high of $213.65.

Carpenter Technology (NYSE:CRS - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.66 EPS 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%. On average, research analysts expect that Carpenter Technology Co. will post 6.83 earnings per share for the current fiscal year.

Carpenter Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, January 28th. Carpenter Technology's dividend payout ratio (DPR) is 15.09%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRS. Benchmark reiterated a "buy" rating and set a $175.00 price target on shares of Carpenter Technology in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price objective on Carpenter Technology from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, Carpenter Technology presently has a consensus rating of "Moderate Buy" and an average target price of $155.50.

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.