Burney Co. Has $347,000 Holdings in Carpenter Technology Co. (NYSE:CRS)

Burney Co. lifted its stake in shares of Carpenter Technology Co. (NYSE:CRS) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,045 shares of the basic materials company’s stock after buying an additional 120 shares during the period. Burney Co.’s holdings in Carpenter Technology were worth $347,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CRS. Kimelman & Baird LLC purchased a new position in shares of Carpenter Technology during the second quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its position in shares of 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 buying an additional 178 shares during the last quarter. nVerses Capital LLC purchased a new position in Carpenter Technology in the third quarter worth $64,000. Banque Cantonale Vaudoise purchased a new position in Carpenter Technology in the third quarter worth $65,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Carpenter Technology in the third quarter worth $80,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.

Carpenter Technology Stock Performance

NYSE:CRS opened at $206.85 on Friday. The business’s 50-day moving average price is $182.74 and its two-hundred day moving average price is $157.29. Carpenter Technology Co. has a twelve month low of $58.87 and a twelve month high of $207.99. The stock has a market cap of $10.31 billion, a P/E ratio of 46.07, a PEG ratio of 0.88 and a beta of 1.55. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42.

Carpenter Technology (NYSE:CRS) last announced 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. The firm had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. As a group, equities analysts predict that Carpenter Technology Co. will post 6.77 EPS for the current fiscal year.

Carpenter Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Friday, February 28th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $0.80 annualized dividend and a yield of 0.39%. Carpenter Technology’s payout ratio is 17.82%.

Analyst Ratings Changes

Several research analysts have weighed in on CRS shares. Benchmark reissued a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a research report on Friday, October 25th. JPMorgan Chase & Co. started coverage on Carpenter Technology in a research report on Friday, November 22nd. They issued an “overweight” rating and a $220.00 price objective on the stock. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $153.00.

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.