2,469 Shares in Carpenter Technology Co. (NYSE:CRS) Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC purchased a new stake in shares of Carpenter Technology Co. (NYSE:CRS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,469 shares of the basic materials company’s stock, valued at approximately $419,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new position in shares of Carpenter Technology during the second quarter worth approximately $33,000. nVerses Capital LLC bought a new position in Carpenter Technology in the 3rd quarter worth approximately $64,000. Banque Cantonale Vaudoise acquired a new position in Carpenter Technology during the 3rd quarter worth $65,000. EverSource Wealth Advisors LLC boosted its position in Carpenter Technology by 58.0% in the 2nd 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. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Carpenter Technology in the 3rd quarter valued at $80,000. 92.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRS has been the subject of a number of analyst reports. JPMorgan Chase & Co. started coverage on shares of Carpenter Technology in a report on Friday, November 22nd. They set an “overweight” rating and a $220.00 target price for the company. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Carpenter Technology in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, Carpenter Technology currently has an average rating of “Moderate Buy” and an average price target of $153.00.

Carpenter Technology Price Performance

CRS opened at $210.59 on Friday. The stock has a market cap of $10.50 billion, a P/E ratio of 46.90, a P/E/G ratio of 0.98 and a beta of 1.55. Carpenter Technology Co. has a 12 month low of $58.87 and a 12 month high of $213.65. The company has a quick ratio of 2.00, a current ratio of 3.84 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $186.11 and a 200 day simple moving average of $160.53.

Carpenter Technology (NYSE:CRS) last released its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.15. Carpenter Technology had a return on equity of 18.01% and a net margin of 8.05%. The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $742.96 million. During the same quarter last year, the firm posted $0.88 earnings per share. Carpenter Technology’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts expect that Carpenter Technology Co. will post 6.77 EPS for the current year.

Carpenter Technology Announces Dividend

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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Tuesday, January 28th. Carpenter Technology’s dividend payout ratio is 17.82%.

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.