Cerity Partners LLC Takes $540,000 Position in Carpenter Technology Co. (NYSE:CRS)

Cerity Partners LLC acquired a new position in Carpenter Technology Co. (NYSE:CRS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,385 shares of the basic materials company’s stock, valued at approximately $540,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kimelman & Baird LLC bought a new position in shares of Carpenter Technology during the 2nd quarter worth about $33,000. National Bank of Canada FI bought a new position in Carpenter Technology during the second quarter worth about $49,000. EverSource Wealth Advisors LLC boosted its holdings in Carpenter Technology by 58.0% during the second quarter. EverSource Wealth Advisors LLC now owns 485 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 178 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Carpenter Technology in the 3rd quarter valued at approximately $64,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Carpenter Technology in the 3rd quarter worth approximately $65,000. Institutional investors own 92.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CRS. JPMorgan Chase & Co. assumed coverage on Carpenter Technology in a research note on Friday, November 22nd. They set an “overweight” rating and a $220.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $175.00 target price 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.00.

Carpenter Technology Stock Performance

Shares of CRS stock opened at $193.52 on Friday. The stock has a market cap of $9.65 billion, a P/E ratio of 43.10, a P/E/G ratio of 0.97 and a beta of 1.52. The company has a fifty day moving average price of $171.01 and a two-hundred day moving average price of $141.69. Carpenter Technology Co. has a one year low of $58.87 and a one year high of $198.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.84 and a quick ratio of 2.00.

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

Carpenter Technology Dividend Announcement

The business 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. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Tuesday, October 22nd. Carpenter Technology’s dividend payout ratio (DPR) is currently 17.82%.

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.